Data switch-maker Hammerhead dead in the water
Telecom data-switching company Hammerhead Systems has folded due to the poor economy, reports VentureWire. Specifically, the Mountain View, Calif.-based company failed to recruit enough mobile carriers as customers for its Ethernet aggregation switches, which rout data from mobile users back to operator networks.
The company claims this functionality helped carriers adapt aging equipment to modern traffic demands — but to no avail. It just let go 50 of its 53 employees, and the several that remain… Continue Reading
Hammerhead Systems raises $10M more for data communications equipment
Hammerhead Systems, a Mountain View, Calif. data communications equipment vendor, has secured $10 million of an expected $18 million fourth round of financing, according to a regulatory filing cited by PE Wire. Return backers include Enterprise Partners Venture Capital, Foundation Capital, Mayfield Fund, Pequot Capital Management. Since 2002, it has raised around $83 million.