AP Engines Gasses Up with $30M

Author:
Publish date:
Updated on

Despite a soft technology market, broadband-provision-systems vendor AP
Engines Inc. said it has secured $30 million in a second round of financing led
by Thomas Weisel Partners.

Enron Corp.'s Enron Broadband Services division, Lighthouse Capital Partners
and Mentmore Venture Partners also contributed, as did AP Engine's original
investors: Atlas Venture, Bessemer Venture Partners and Commonwealth Capital
Ventures. AP Engine's second round also included $5 million in subordinated debt
from Lighthouse.

The latest cash infusion brings AP Engine's total investment funding to more
than $40 million. The company said it will use the cash to deploy its
'InterLink' service-creation and usage-management software platform for
broadband- and telephony-service providers.

Time Warner Cable is using AP Engine's technology to handle the back-office
elements of its open-access trial in Columbus, Ohio.

Related