Mountain View-Based Narus Lands $30 Million in New Financing

Mountain View, Calif. -- Narus, a Mountain View-based maker of software for service providers, said on Monday that it has raised $30 million in new financing, including $20 million in equity funding and $10 million in a revolving credit line. The round was led by American Capital Strategies, and included participated from previous investors including Mayfield Fund, Pacven Walden Ventures, JP Morgan Partners and NeoCarta Ventures. The company said that it will use the new capital primarily to develop new software, as well as to expand its worldwide channel program. Narus makes software used to manage, secure and deliver services over IP, such as Voice-over-Internet Protocol and IPTV. Customers include AT&T, Saudi Telecom, U.S. Cellular and T-Mobile.
http://www.narus.com/press/2006/1030Funding.html