Tuesday, December 1, 2009

Cedar Point pulls in $2M in debt funding

By Rodney H. Brown

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Multimedia switch maker Cedar Point Communications Inc. has taken on $2 million of a planned $3.4 million debt financing round, according to federal documents. The Derry, N.H.-based company specializes in voice over Internet protocol (VoIP) technology.

The parties involved in the debt financing weren’t identified in the filing with the U.S. Securities and Exchange Commission. Cedar Point has taken in $79 million in venture funding to date, from a raft of backers such as Ascent Venture Partners, Battery Ventures, Charles River Ventures, Comcast Interactive Capital, Focus Ventures, JP Morgan Chase, Star Ventures and Motorola Ventures.

Officials at Cedar Point were unavailable for comment this morning.

The bulk of Cedar Point’s customers are international cable providers who use the company’s Safari C3 switch to handle VoIP and other media traffic. In May, the company won certification from the Ministry of Communications in Russia to allow the sale of its Safari C3 switch to Russian providers.

In June of 2008, Cedar Point named former Excel Switching Corp. president John (J.C.) Murphy as president and CEO. Murphy replaced interim CEO Curt Hockemeier, who took the helm in January 2008 after the departure of long-time CEO Andy Paff.