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Overview (PDF)

Case Study

VxTel

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)

 
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