Neopolitan Networks, Ethernet network service provider, raises $3.17M

June 28, 2007 | Matt Marshall

Neopolitan Networks, a Palo Alto, Calif. Ethernet network service provider, has raised $3.17 million in a first round of funding.

Topspin Partners and OakStone Ventures co-led the deal, according to the company’s statement.

The company delivers WAN and MAN communications services.

According to Infonetics, a Campbell, CA-based market research and consulting firm, the worldwide Ethernet services market is expected to grow 280 percent from $5.9 billion in 2005 to $22.5 billion by 2009, the company said in its statement.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.