Ceon Completes $10 Million Equity Financing

March 28, 2002 -- (WEB HOST INDUSTRY REVIEW) -- Ceon Corporation (ceon.com), an advanced broadband provisioning company, announced on Thursday that it had completed agreements with several venture capital organizations and closed a $10 million round of funding.

The private equity financing provided by Sutter Hill Ventures, Berkeley Ventures, Technology Crossover Ventures, Accel Partners and major existing investors, says Ceon, fully funds the company’s business plan.

The investment, says Ceon, will enable the company to move aggressively forward into the market for broadband provisioning services.

"We've reached an important milestone," says Jack Methven, chairman and CEO of Ceon. "This investment enables us to boldly pursue the activities in our business plan, and reconfirms the Venture Capital community's confidence in Ceon, its products and team, and the broadband services market."

With the completion of the funding, and the company’s Integration & Provisioning Products, the company says it is positioned to establish itself for the long-term as a leading player in the broadband provisioning market for advanced IP services, including HSDS, VoIP, IP-VPN, CBR Telephony, video and other broadband-based services and content for the cable, ILEC/PTT, wireless and other service provider markets.