2nd Century Communications Secures $155 Million in Funding

Strategic Insights -

2nd Century Communications, a leading provider of networking and applications services for small and medium businesses, has announced a significant investment from major players in the industry. Dell, Intel, and Microsoft have joined repeat investors Accel Partners, North Bridge Venture Partners, and Venrock Associates in backing the company. This latest round of funding brings 2nd Century's total investment to $155 million in just 20 months. With the capital, the company plans to expand its presence to 35 cities by the end of 2000, enhance its marketing and sales efforts, and continue to staff for growth.

Key Takeaways:

  • 2nd Century Communications has received $155 million in funding from top industry players, including Dell, Intel, and Microsoft.
  • The company has expanded its presence to 21 cities nationwide and plans to reach 35 cities by the end of 2000.
  • 2nd Century's converged network utilizes a single protocol and a single switching fabric to deliver multiple applications, including telephony, Internet, computing, and IT services.
  • The company has established partnerships with major industry players, including Dell, Intel, and Microsoft.
  • 2nd Century has been recognized as a leader in the advanced applications and converged network services market.
  • The company's network is designed to provide a complete end-to-end solution for small and medium businesses, including broadband access, desktop management, and proactive management support.
  • 2nd Century has been awarded "Most Innovative CLEC" by Network Magazine and named one of "10 Companies to Watch" by Network World.
  • The company's investors include Accel Partners, North Bridge Venture Partners, Venrock Associates, and Meritech Capital Partners.

Statistics:

  • $155 million: Total funding received by 2nd Century Communications.
  • 20 months: Timeframe in which 2nd Century received the total funds.
  • 21: Number of cities where 2nd Century is currently present.
  • 35: Number of cities 2nd Century plans to reach by the end of 2000.
  • 14: Number of cities announced for expansion in April.
  • 100+: Number of customers signed by 2nd Century as of April 28, 2000.
  • 42: Number of customers signed by 2nd Century's channel partners by March 1, 2000.

Sources:

  • Business Wire, "2nd Century Communications Announces Investments from Dell, Intel and Microsoft" (May 15, 2000)
  • 2nd Century Communications, "About 2nd Century"
  • Meritech Capital Partners, "About Meritech"
  • Accel Partners, "About Accel Partners"
  • North Bridge Venture Partners, "About North Bridge"
  • Venrock Associates, "About Venrock"