PacketExchange Nets $12M

PacketExchange, a firm providing wide area Internet exchange services which has headquarters in the UK but US offices in San Francisco, said Wednesday that it has closed on $12M in a Series B funding. The round was led by existing investors DFJ Espirit and Bank of Scotland Growth Equity. PacketExchange said the funding will go to expand its current network operations and global reach. Rick Mace, former COO at Tekelec, was appointed CEO in conjunction with the funding. More information »