OTTAWA, Ontario, August 11, 2015 /PRNewswire/ --
CENX, a global leader of Lifecycle
Service Orchestration solutions for software-defined and
virtualized networks, today announced that it has
finalized new equity investment totaling $12.5 million USD. New investors BDC Capital,
Mistral Venture Partners, and VMware joined the Series D financing
round, in which all current investors participated: Highland
Capital Partners, Mesirow Financial Private Equity Inc., Verizon
Ventures, a subsidiary of Verizon Communications Inc. (NYSE,
NASDAQ:VZ), Ericsson (NASDAQ:ERIC), DCM Ventures, and Cross Creek
Advisors.
This investment will help accelerate CENX's global market and
portfolio expansion in addressing emerging requirements for
Lifecycle Service Orchestration (LSO) for service providers that
are evolving to Software-defined Networking (SDN) and Network
Functions Virtualization (NFV) technologies. CENX's Cortx
Service Orchestrator is an essential enabler of SDN and NFV
deployments, leveraging the power of network big data analytics for
dynamic provisioning, visualization and assurance of data services
across heterogeneous physical and virtualized networks.
Ever-growing demand for enterprise and consumer Cloud-based
applications is driving service providers to change the way they
operate their networks, and to turn to software systems that
support agile service delivery and real-time service assurance. The
LSO market is forecasted to grow at a CAGR of nearly 60%, reaching
$2.7 billion by 2019, according
to The Rayno Report, fueled by carrier SDN and NFV markets
that are increasing 50-80% annually.
"We welcome the market, business and partnership perspectives
that VMware, BDC Capital, and Mistral bring to CENX," said
Ed Ogonek, President and CEO of
CENX. "We are seeing tremendous demand worldwide for our Cortx
solution, delivering tangible value in today's networks and
empowering the evolution to virtualized networks and services with
NFV and SDN. With the support and confidence of our growing
investor group, we continue to expand our world-class team to meet
these global opportunities."
"CENX is at the forefront of the fast-rising LSO market with its
Cortx Service Orchestrator, and we are delighted to support
its continued global business growth," said Ron Warburton, Managing Partner, IT Venture
Fund, BDC Capital. "This is a great opportunity to bring
Canadian innovation to mobile, wireline, and cloud service
providers worldwide."
"CENX shares VMware's vision to deliver innovative solutions for
virtualization and cloud computing," said David Wright, Vice President, Operations, Telco
NFV Group, VMware. "With more and more carriers moving to NFV,
there is a real need for CENX's high-scale, real-time LSO solutions
to ensure high service quality end-to-end across both physical and
virtual network infrastructure. We look forward to participating in
this industry transformation."
"The Board is very pleased with CENX's business progress and, on
behalf of all the investors, we're excited to be part of its next
stage of growth," said Sean Dalton,
Partner with Highland Capital Partners, and Chairman of the CENX
Board. "CENX has been building its global footprint and
organizational competencies aggressively year-over-year, driven by
strong demand for its Cortx solutions. We see that trajectory
continuing as operators transition to next-generation data
networks."
About CENX
CENX provides Lifecycle Service Orchestration solutions that
automate fulfillment and assurance of advanced data services in
software-defined networks, bridging physical and virtualized
network functions. We harness the power of real-time big data
analytics and web-scale computing technologies to dynamically
fulfill, visualize, navigate and assure data services across
multi-vendor, SDN and NFV networks. CENX solutions are deployed by
service providers worldwide to create new revenue streams, gain
service agility, reduce operational costs, and deliver
quality-assured data services. http://www.cenx.com
About BDC Capital
A subsidiary of BDC, BDC Capital offers a full spectrum of
specialized financing and investment solutions to help Canadian
entrepreneurs achieve their full growth potential. With more than
$1.6 billion under management, BDC
Capital takes a strategic, patient approach to nurture companies'
development over the long term. From venture capital to equity to
growth and transition capital, our team of over 100 experienced,
local professionals partner with entrepreneurs to identify and meet
their needs on flexible terms. Some of the sectors in which we
specialize include IT, industrial/clean/energy technology, and
healthcare. For more information, please
visit http://www.bdccapital.ca or follow us on Twitter at
@BDC_Capital.
About Mistral Venture Partners
Mistral Venture Partners is an early stage focused venture
capital firm with offices in Ottawa,
Canada and Palo Alto,
California. We partner with exceptional management teams who
strive to make a global impact by leveraging unique
Internet-related IP. Mistral sets itself apart by leveraging a
network of Executive Fellows who are not only investors but also
longtime operating experts who can help build companies into global
technology platforms. http://www.mistralvp.com
Links and search terms
http://www.cenx.com
http://www.cenx.com/about/overview.html
http://www.cenx.com/cortx-service-orchestrator/
http://www.cenx.com/about/service-orchestration.html
CENX, Cortx Service Orchestrator, Lifecycle Service
Orchestration, LSO, Cloud, data center, network functions
virtualization, NFV, software-defined networking, SDN, IP,
Ethernet, big data analytics, OSS
Follow CENX
http://www.blog.cenx.com
http://www.twitter.com/cenxinc
http://www.linkedin.com/company/cenx-inc
http://www.youtube.com/cenxinc
Hannah Whitrow, Zonic Group
PR, hwhitrow@zonicgroup.com , +44-(0)1672-550126