Vancouver's Zeugma Systems announced this morning that it has closed approximately $9 Million as a part of its Series C funding round. This round brings total funding to date to $50 Million. Investors include Granite Ventures, Ventures West, Vertex Venture Capital, GrowthWorks Capital Ltd., Yaletown Venture Partners, BC Advantage Funds, and GTD Capital. Zeugma will use the funding for global expansion of its customer-facing sales and support activities as well as for continued R&D.
According to Zeugma CEO Andrew Harries in the accompanying press release, “a significant opportunity is emerging for systems that allow broadband service providers to monetize and meter the traffic — especially streaming internet video — already traversing their networks. The rapid acceptance we’ve received is clear validation of the ability of Zeugma’s technology and products to deliver this capability while also performing essential broadband aggregation and subscriber management functions. Zeugma’s innovative technology, coupled with partnerships with internet video players, application developers, and other vendors, are causing BSPs to rethink edge network architectures.”