Accedian Networks Raises $19.5 Million

Accedian Networks, a provider of service assurance solutions for Carrier Ethernet and IP networks, has gotten $19.5 million in a round of financing led by Summit Partners, a growth equity firm with offices in Boston, Palo Alto and London.

Rho Ventures and Skypoint Capital, existing investors in Accedian, participated in the round as well.

Accedian has had four years of 100 percent-plus, year-over-year growth and profitability.

“The rapid increase of mobile device usage and network traffic has left carriers struggling to meet consumer demand and service level agreements, with the backhaul function representing a notable bottleneck on most networks,” said Tom Jennings, a Managing Director at Summit Partners who has joined the company’s board of directors.”

Since inception, Accedian has sold over 55,000 platforms to over 150 service providers and enterprise customers world-wide. The new funding will be used to grow a global sales force, as well as further support product development, marketing, and administrative support organizations