|
VxTel
Initial and Follow-on Financing
- 4/99 – Led Series “A & B” financings: Series A invested $1.25MM @ $3.1MM post $ valuation
- 12/99 – Closed Series “C” round led by Sequoia Capital: $12.6MM @ $40.6MM post $ valuation
- 8/00 – Closed Series “D” corporate round with ADC, AMCC, Clarant, Intel, Juniper, Tellabs, UT Starcom and Vitesse: $62.5MM
Recruiting
- 8/99 – Recruited Atiq Raza (Former President/COO – AMD) as Chairman of the Board
- 9/99 – Recruited senior management team: Sanjeev Ranjen (SVP, Engineering), Vijay Parmar (VP,Marketing), Rich Santos (CFO)
- Q4/99 – Rounded out engineering team with several key hires
- Q1/00 – Recruited Board of Advisors: Steven Eich (Founder/CTO - Promatory); Larry Fromm (VP, BD - Dialogic); Amos Ben-Meir (Principal ASIC designer – Redback (Siara)); Krish Prabhu (CEO, Alcatel)
- 5/00 – Recruited Shri Dodani as President and CEO
Product Roadmap and Execution
- Held weekly working sessions for design reviews
- Helped update architecture and definition for 1st product: Laguna and 2nd product: Newport
- Engaged anchor customer relationships – source for specification/parameter definitions
- Obtained customer product validation from Nortel, Cisco and Sonus
Corporate Partners and Customers
- 1/00 – Initiated discussions between VxTel and Broadcom
- 6/00 – Assisted in the acquisition of Tautstream (Boulder, CO) for sub-system development
- 10/00 – Helped to close Dialogic as strategic partner and customer
- 11/00 – TeleSoft hosted a working session with Intel introduced VxTel (along with 4 other portfolio companies)
- 1/01 – Intel and another semiconductor company both made acquisition offers for VxTel
4/01 – VxTel acquired by Intel for $550MM (cash)
|
