WAN optimization startup Certeon has scored $15 million in a Series B funding round, helped in part by new investor and Lucent ex-CEO Richard A. McGinn. (See Certeon Raises $15M.)
The new round brings Certeon's total funding to date to $27 million. The company will use the money for expansion of global sales and marketing.
RRE Ventures led the round, and Sigma Partners, Globespan Capital, Dow Employees' Pension Plan, and the Union Carbide Employees' Pension Plan also contributed.
McGinn of RRE will now sit on Certeon's board. This indomitable exec's reputation precedes him: As the head of Lucent in October 2000, he took the fall when that company hit financial woes and accounting mishaps. (See McGinn: McGone and Farewell, Lucent.)
Nonetheless, Certeon's delighted to have him aboard. "We are extremely fortunate to have someone of Richard's caliber involved with us," says Certeon CEO Peter Dougherty.
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