MORRISVILLE, NC—Overture Networks, which sells networking equipment, has raised $12.3 million in a venture round led by Lehman Brothers Venture Partners with participation from existing investors, including Durham, NC’s Intersouth Partners, participating, according to the Raleigh News & Observer.

The company says the funds will be used to hire additional sales staff, expand in Europe, and develop new products.

The company has raised a total of $43.8 million of venture backing in three rounds.

Overture sells a product for Ethernet multiservice convergence that delivers voice and data streams through the same line, reducing the number of lines needed to operate both phone and computer systems.

“More and more carriers are choosing to integrate Ethernet as part of their services strategy,” explained Scott St John, VP of sales and service, Overture Networks said in a recent statement. “They need to deliver those services as cost-effectively as possible while maintaining a high level of quality and service.”

Overture Networks’ ISG 180 was recently named a recipient of the 2006 Internet Telephony Excellence Award. The ISG 140 and 180 products were named as finalists for the InfoVision 2006 Awards in the Access Network Technologies and Services category.

On the Web: www.overturenetworks.com

Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org

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