Packet Design Inc., a designer of network management technology, on Monday announced a $12 million fourth round that included a $2 million contribution from Juniper Networks Inc. [JNPR], the startup's first strategic investor.
Previous investors Advanced Technology Ventures, Masthead Venture Partners and Mayfield Fund returned to lead the round, Packet Design said.
The round, which follows the company's move to larger headquarters in Santa Clara, Calif., will be used to expand its product line and help Packet Design grow internationally. It is expected to carry the company through to breakeven cash flow by the end of next year.
The investment follows a $7.5 million round in 2006 and brings the total raised by Packet Design to $44.5 million. The company makes hardware and software that help IT professionals visualize and map patterns of information exchanged in the network, and create analysis reports that help troubleshoot problems.
In 2003 it was spun out of tech think tank Packet Design LLC, which founded by serial entrepreneurs Judy Estrin and Bill Carrico, a husband and wife team that previously worked together at Cisco Systems Inc. [CSCO]. - Olaf de Senerpont Domis
See Sept. 15 press release on fourth round funding from Packet Design
See October 2006 story on Packet Design's third round from TheDeal.com
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