Infotone Communications, a Redwood City network hardware start-up, has raised a $1 million in convertible debt bridge capital, and is now looking for $5 million to $10 million Series B round of venture capital by the end of the year, the company’s chief technology officer Avery Moon told VentureWire (full story here; registration required):
Infotone’s Codefree brand network hardware provides functions normally associated with middleware software. It allows enterprise customers to integrate disparate enterprise systems, such as payroll and human resources. Moon said Infotone’s hardware is more cost effective to install and maintain than software. Infotone competes with webMethods Inc. and Tibco Software Inc.