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Financing Solutions that Fit
Halifax, Nova Scotia -- Core Networks, a global leader in Cable OSS solutions, today announced that it has closed on additional funding, bringing the total it has raised in this institutional round to $5.7M (USD). Participating in the round are current investors ACF Equity, RBC Capital and Skypoint Capital, as well as a new investor, MM Venture Partners.

Core Networks will utilize the proceeds from this current round of funding to accelerate development of its next generation OSS platform as well as further the market penetration of its recently announced network assurance solution: CoreMeterä.

"We are pleased to welcome further investment from MM Venture Partners and our existing investors," said Craig Soderquist, CEO of Core Networks. I view the investment as a strong vote of confidence by a world-class group of investors in Core's product strategy and a validation of our leading position in Cable OSS solutions. Receiving additional financing in the current economic climate is testament to the validity of Core Networks business and product strategy as well as the success of our worldwide deployment of broadband OSS solutions."

As evidenced by recent National Cable Television Cooperative and Casema (Tier 1 MSO in Europe) success, Core Networks is experiencing strong demand.

"As the industry continues to push for comprehensive OSS tools, we expect the momentum to continue and strengthen in the months ahead" said Amit De, General Partner, MM Venture Partners. "We are impressed by Craig and his team and remain extremely bullish on the future prospects of Core Networks and its strategic positioning" Mr. De continued.

About Core Networks Inc.

Core Networks, a global leader in the cable OSS space delivers a suite of powerful next generation applications, including provisioning, network assurance and home networking solutions for the cable industry. The company's flagship product CoreOSä has been deployed at global customer sites for over four years. Core Networks, a member of CableLabs and tComLabs, works with major CMTS and cable modem vendors, as well as other industry partners to ensure advanced feature support and compatibility.

Established in 1998, Core Networks is based in Halifax, Nova Scotia, with its global headquarters in Silicon Valley, California and European head office in The Netherlands. For further information please visit

John Glass, Sr. VP Marketing and Business Development
Tel: (805)-444-4613
155 Chain Lake Drive, Suite 19
Halifax, Nova Scotia B3S 1B3

About MM Venture Partners

MM Venture Partners is a privately held; venture-debt fund that focuses exclusively on private technology companies in Canada. MMVP focuses specifically on Canadian information technology and biotechnology companies. Fort further information please visit

Amit De, Senior Vice President
Tel: (416)-977-9718 ext.24
Wellington Street West, 22nd Floor
Toronto, Ontario M5J 2N7

Posted in: Communications

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