Overture Networks, an award-winning provider of networking equipment, has secured $12.3 million in venture financing.
The News & Observer reported Thursday that the funds would be used to help Overture expand services and marketing in Europe.
Overture has raised more than $43 million in three rounds of financing. Among its backers is Intersouth Partners in Durham. Lehman Bros. Venture Partners led the new financing.
Overture landed $7.5 million in financing in June of 2006. The company was launched in 2000.
Its patented telecommunications technology increases bandwidth capabilities of traditional copper networks. Overture won an Internet Telephony magazine Excellence Award last fall for its ISG 180 product. It enables customers to offer incremental increases in bandwidth from 1.5 megabits to 16 megabits per second by bonding together standard T1 or E1 high-speed lines.
