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RESPONSE NETWORKS SECURES $10 MILLION IN THIRD ROUND FINANCING WITH BACKING FROM CISCO SYSTEMS
North Andover, Mass. - August 16, 2000 - Response Networks, Inc., a leading provider of proactive application service management technology, today announced that it has secured $10 million in third-round financing. This funding will be used to support new R&D initiatives in service management technology and integration. Response Networks also announced that Cisco Systems, Inc., the worldwide leader in networking for the Internet, is the lead investor for this round. Other participants include Mid-Atlantic Venture Funds, Keystone Venture Capital, Hickory Venture Group and Blue Rock Venture Capital. The combined funding will enable Response Networks to continue to capitalize on the demand for application transaction performance management technology.
As a result of the agreement, Response Networks will collaborate with Cisco in defining...