Valere Power, a provider of dc power distribution systems for the telecommunications industry, has closed its third round of venture capital financing, raising $11 million to fund sales growth and new product development.
This round of venture capital brings Valere’s total financing to $27.5 million and provides the company with enough capital to fund operations for three years at its current level of spending. The financing round was led by Sierra Ventures, and also included existing investors Alcatel Ventures and Dali, Hook Partners.
“With this capital, Valere is one of the most financially stable new companies in this market,” said Andy Marsh, president and CEO of Valere Power. “We increased our valuation about 60% in this round, which is a testimony to the strong team we have here and the strong customer acceptance of our product line.”
The company has sold its Compact DC Power Systems to more than 25 customers since the second quarter of 2002. Telecommunications service providers use the Compact DC Power System to distribute power to their voice and data switching systems in remote locations. It provides up to 250 A of dc power in a unit 60% smaller than competing products and that dissipates 35% less heat--allowing customers to free up valuable space for more networking equipment.
For more information, visit www.valerepower.com.