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Epoch Internet Rings in the New Year With $20 Million in Latest Round of Venture Capital Financing
IRVINE, Calif. — 11 January 1999 — Epoch Internet, the nation's largest privately held Internet solutions provider, today announced a fresh round of $20 million in equity financing. With rapid sales growth in 1998, demonstrating a steady gain in Internet access market share, Epoch's investors once again show their support for the company by providing the capital necessary for future growth plans.The new funding will enable Epoch to expand its data centers, increase network coverage to more than 400 points of presence, and upgrade its backbone to OC-3-plus. This growth is required to meet the needs of Epoch's rapidly growing carrier and agent business customers who sell dedicated access, website hosting, server co-location, and dial-up services.
Venture Capital firms participating in this financing include HarbourVest Partners LLC, Providence Equity Partners, Gold & Appel, Prime New Ventures, Arete Ventures, Dolphin Communications, and CIBC Capital Partners.
"Because we've held to a focused business plan with a solid distribution strategy our investors have remained confident in the success of the company and our unique vision," said Scott Purcell President and CEO of Epoch Internet. "This new round of financing enables us to continue our growth, offering innovative products and services, superior customer support, efficiently run internal systems/operations, and employment of quality people."
According to the Chairman of Epoch's Board, Bill Johnston, Managing Director at HarbourVest Partners, LLC, "The decision to provide additional financing to Epoch was based on the company's lasting success, its well-maintained backbone performance, solid customer acquisition strategies, scalable internal systems, and outstanding growth in revenues. We feel that Epoch is well positioned to compete and achieve substantial growth thanks to the distribution channels, the products, and the team that has been developed," Mr. Johnston added.
About Epoch Internet
Founded in 1994, Epoch offers high-speed, dedicated access (DSL, 56 Kbps to T-3) and dial-up access coast-to-coast from more than 200 Points of Presence (POPs). A full service solutions provider, Epoch also provides Web site and e-mail hosting; server co-location; firewalls and Virtual Private Networks (VPNs); and an entire spectrum of brandable Internet services for telecommunications companies. Headquartered in Irvine, Calif., Epoch has offices in Irvine, San Francisco, Atlanta, Seattle, and Washington, D.C. Epoch can be reached at 888-77-EPOCH or http://www.eni.net/. For media inquiries, contact Nancy McHugh, Epoch Internet, at 949-862-8383 or e-mail pr@eni.net.