Assia, a US-based provider of software to help manage digital subscriber line (DSL) networks, has raised $20.8m from a consortium including a host of corporate venturing units.
New investors in Assia included phone operators Telefonica and AT&T, and venture capital firm Sandalwood Partners. They joined in the consortium corporate venturing peers SFR Development, Swisscom Ventures and T-Ventures, VC firms Mingly China Growth Fund and Sofinnova Partners, and Stanford University.
John Cioffi, professor emeritus of electrical engineering at Stanford University, founded Assia in 2003 and it now has 45 million DSL lines under contract.
Vicente San Miguel Maza, chief technology officer at Telefonica, said: "Telefonica’s and ASSIA’s success in extending the performance of the copper plant is a testament to the innovation capabilities of both companies."
AT&T’s Steve Sposato, vice-president of network systems engineer, added: "AT&T and Assia have enjoyed a strong relationship since Assia’s founding in 2003."
In November 2009, Assia made an initial close of the round at $10m. At that time, Jean-Francois Caillard, director of SFR Development, said: "The quality of Assia’s first generation products deployed in many operators throughout the world has motivated SFR Development to help Assia accelerate its future DSM products to market."
T-Venture’s chief executive Georg Schwegler added: "We are positive about Assia’s activities at Deutsche Telekom."
"Assia has a strong plan and has established a unique position in the market," said Dominque Megret, head of Swisscom Ventures.