Funding and Leadership Focus on Growth and Market Expansion
BOSTON & PALO ALTO, Calif. & NEW YORK–(BUSINESS WIRE)–October 21, 2014–
Benu Networks, the innovative provider of networking and software solutions for network operators deploying Wi-Fi and Cloud services, announces strategic investors Liberty Global Ventures and Arris Group participate in Benu’s funding round of $27.7 Million. In addition, Benu announces the hiring of industry tech veteran Dino Di Palma as Chief Executive Officer. Existing investors Spark Capital, Sutter Hill Ventures, and Comcast Ventures also participate.
“Benu’s innovative solution will allow operators to deliver services and manage policies on a user and device level irrespective of access type. This approach opens up a range of new business opportunities in terms of service innovation, delivery cost, and velocity,” said Dan Hennessy, Chief Architecture Officer at Liberty Global.
“Liberty Global Ventures invests in companies which provide high strategic value to the cable industry, and we are excited to work with the Benu team to deliver innovation around Wi-Fi and Cloud,” said Ankur Prakash, Vice President of Liberty Global Ventures.
Di Palma has more than 20 years of experience leading high-growth technology organizations. Dino served as Chief Operating Officer at Acme Packet prior to its $2.1 billion acquisition by Oracle Corporation in February 2013. There, he oversaw the company’s global sales and business development, customer service and support, and manufacturing organizations.
“Dino brings a proven track record building global teams focused on serving large network operators,” said Jim Dolce, Chairman of the Board at Benu. “We’re delighted to have both his leadership and industry knowledge as we enter this next chapter for Benu.”
“The opportunity to lead the Benu Networks’ team in providing its innovative technology to the global market is compelling,” said Di Palma. “Carriers globally, fixed and mobile, are investing in cutting edge technology that enables them to generate cloud-based value added services. Benu Networks is well positioned to deliver on this promise.”
About Benu Networks: Our mission is to transform the Network Operator’s business model from providing a pipe as a service, to offering revenue generating services to subscriber devices and sessions, creating a unique experience and value. Benu is a venture funded company, led by Spark Capital, Sutter Hill Ventures, and Comcast Ventures. For more information, please visit the Benu Networks website: www.benu.net.
Benu Networks, Inc.
John DePietro, +1 978-223-4700 x5011
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