Ottawa’s CENX 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, Verizon Ventures, Ericsson, 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.
“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.”