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Actelis Networks, a Fremont, Calif, company that offers telecom carriers a way of distributing ethernet over existing copper lines, said it has raised $22 million in a fifth round of venture capital.
The round was led by Adams Street Partners, and including existing investors ATA Ventures, Global Catalyst Partners, Dupont Capital, the Carlyle Group, Innovacom Venture Capital, Vertex, Walden International, New Enterprise Associates and Independent Venture Fund.
In a statement sent to VentureBeat, the company cited research by Infonetics Research saying “the Ethernet access services market will grow to become an $8 billion annual market as carriers continue accelerating Ethernet services deployments world-wide.”
The company has raised about $150 million in total funding over the past nine years.