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Investors Pour into Solace
By Mark Evans | April 25, 2005
Solace Systems, which has developed a router for carriers that lets them deliver the IP-based traffic of corporate customers to the right place at the right time, has raised a whack of cash from a blue-chip list of investors. The group includes entrepreneur Terry Matthews, EdgeStone Capital Partners and Ontario Teachers' Pension Fund Private Capital. The Ottawa-based company did not, however, unveil how much money it had raised - citing competitive reasons. But one could speculate it was at least $20-million given this is a round focused on sales and marketing rather than R&D. The big money tends to pour in when customers and revenue are materializing. Solace believes it's only direct competitor is Cisco Systems, which makes one think Solace is perfectly positioned for a takeover offer from a Nortel or Alcatel.
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