Traffix Secures $7 Million in Financing Led by Bessemer Venture Partners
Funding to support expanded growth of 4G network signaling leader
Traffix Systems, a leading provider of signaling technology that helps 4G networks run better and more efficiently, announced it has secured $7 million in financing in a round led by Bessemer Venture Partners. The funds will be used to expand Traffix’s market penetration with telecom carriers around the world as more of them roll out 4G networks that require next-generation, network signaling solutions to handle increased data traffic.
The Traffix Signaling Delivery Controller (SDC) enables carriers to maximize network performance with innovative routing, load balancing and gateways solutions based on the new, IP-based industry standard protocol for signaling known as Diameter. The company boasts nearly 100 global deployments and is profitable.
“We are extremely impressed by the deep knowledge in IP-based signaling that Traffix possesses, and the company’s ability to translate that insight into revenue-generating products,” said Adam Fisher, a partner at Bessemer who, as part of the latest financing round, is joining Traffix’s board. “The telecom signaling market is really taking off and Traffix is making significant headway with deployments for major service providers around the globe. We’re excited to help this pioneering company grow.”
Traffix is headquartered in Israel and has offices in New Jersey and the U.K. The company was founded in 2005 by Ben Volkow who serves as CEO, and Gil Shafran who serves as vice president for research and development, to address the increasing complexity that 4G technologies such as LTE bring to networks.
“We are thrilled by the opportunity to work with Bessemer and look forward to the firm’s guidance,” Volkow said. “To handle all the new demands for complex data, networks are moving to IP-based technologies such as LTE, which create a need for sophisticated solutions like those Traffix provides.”
“As seed investors in Traffix, we are very pleased to welcome Adam Fisher of BVP to the Traffix board,” commented Yuval Cohen, managing partner at StageOne Ventures.
“I’m confident that his contribution will add positive synergies to the current composition of the board.”