Valere Power (Richardson, TX), a provider of power infrastructure for the telecommunications industry, announced that JPMorgan Partners, the private equity arm of J.P. Morgan Chase and Co., has invested $6 million in the company’s Series C financing round, increasing the total raised in this round to $17 million.
The company’s third financing round was co-lead by JPMorgan Partners and existing investor Sierra Ventures, which will lead the raising of $11 million from existing investors that was announced in February 2003. The company has raised a total of $33.5 million in capital since its founding in 2001. Valere will use the latest investment to fund its expansion into European and Asian markets and to introduce its products to enterprise markets.
"We have aggressively expanded our product line this year and have seen tremendous acceptance by our US carrier customers. Now is the time to leverage that success overseas and with major enterprise OEMs," said Andy Marsh, president and CEO of Valere Power. "We welcome the validation of a strong investor like JPMorgan Partners, and continued support from our existing investors."
