Brilliant Telecommunications Announces Series A Funding from Tier One Venture Capital Investors
October 07, 2007 (PRLEAP.COM) Technology NewsCampbell, CA - Brilliant Telecommunications (Brilliant), Inc., a developer of ultra precise and reliable Network Timing Protocol (NTP) server technology, based on advanced hardware and software, announced the company had secured $7.1 million in Series A funding led by ONSET Ventures. Also investing in the round were Asset Management, Draper Associates, Draper Richards, and Intellect Capital Ventures, LLC. As a result of the funding Susan Mason, ONSET Management general partner, and Richard Simoni, Asset Management partner, joined the company’s board of directors. Brilliant initially closed the round in June 2006, with a subsequent closing in December 2006 and will use this financing to accelerate product development, streamline operations, and fund commercial deployments.
Brilliant has developed an innovative and intelligent platform for next-generation packet-based networks to address the growing need for highly accurate timestamps across broad markets. Many industries including telecommunications, financial, health, legal and manufacturing need highly accurate chronological data archived to be compliant with existing and emerging regulations, such as Sarbanes Oxley, HIPAA, and NASD Rule 132. Brilliant’s hardware-based timestamp technology has been well received in the market place due to its seamless integration into existing networks while addressing strict regulatory demands for accurate and legally traceable time.
“Based on performance testing of existing competitive products, we have developed the most highly accurate and reliable, carrier-class, Network Time Protocol server technology on the market today,” said Charles Barry, chief executive officer and founder of Brilliant Telecommunications. “Our extremely small form factor, zero footprint in the CoLo, and carrier-class robustness, coupled with the ability to accept power over Ethernet, deliver a compelling and cost-effective solution to service providers and enterprises.”
Susan Mason of ONSET Ventures explained, “Nearly every networking technology and application is coming under increasing pressure to remain synchronized with the vast numbers of other activities in the network; moreover, this problem will become even more demanding as networks become more integrated and sophisticated across the world. Brilliant's technology conquers today's challenges, and most importantly, is a very powerful foundation for network needs of tomorrow. Our investment in Brilliant underscores our confidence in the importance of this company."
About ONSET Ventures
ONSET Ventures specializes in providing “venture craftsmanship”—an ideal mix of start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses. The firm has backed over 100 companies since 1984 and now has more than $700 million under management. Based in Menlo Park, CA, ONSET focuses exclusively on information and medical technology-based start-ups, and has a long history of successful ventures in each of these sectors. www.onset.com
About Asset Management Company
Asset Management Company is a leading Silicon Valley venture capital firm, one of the first founded on the U.S. West Coast. Since 1965, the company has been on the cutting edge, identifying the best ideas and the best people in the information technology and life sciences sectors. Specializing in seed and early stage funding, Asset Management has built a history of being ahead for over four decades. www.assetman.com
About Draper Richards
Draper Richards L.P. is a leading venture capital firm investing in seed-and early-stage technology companies. Since 1996, the firm has funded entrepreneurs with the energy, vision, experience, and desire to build great companies. Draper Richards’ experienced management team, headed by veteran venture capitalist William H. Draper, III, is dedicated to helping entrepreneurs achieve their maximum potential through contacts, advice, and support. www.draperrichards.com
About Brilliant Telecommunications
Brilliant Telecommunications designs and develops an intelligent family of highly accurate and reliable network time protocol servers which deliver timing to the most demanding applications in today’s next-generation packet-based networks. Brilliant Telecommunications is headquartered in Campbell, California.
For more information please visit www.brillianttelecom.com