ASSIA Raises $10 Million11/03/2009 3:27 PM Eastern
Redwood City, Calif., software provider Assia completed its second round of financing, raising $10 million.
New participants in the round include Mingly China Growth Fund and SFR Development, joining past investors Swisscom Ventures, Stanford University and T-Venture (part of Deutsche Telekom).
In an interview last week, Assia chairman and CEO John Cioffi said the funding will be used to grow the company, including possibly adding more software developers. The firm currently has about 45 employees and it software manages 23 million DSL lines in North and South America.
Cioffi, a Stanford professor, founded Assia in 2003. The company develops software tools for dynamic spectrum management of digital subscriber line networks. According to Cioffi, Assia's products help DSL providers to better manage their DSL networks, and by re-profiling lines (basically by changing parameters in default settings), improves the speed, reliability and reach of the networks. Cioffi added that DSL providers can boost speeds to as high as 14.5 Megabits per second and beyond, using his product.