Epana Completes Series A at $3 Million
VentureWire - February 15, 2001
New York -- Epana Networks, a communications company, said it had completed its Series A round at $3 million led by Sienna Holdings, with participation from Bluefish Ventures and individual investors. The company has received $1.5 million and will receive an additional $1.5 million upon meeting agreed-upon benchmarks. Robert J. Conrads, an operating partner at Sienna, and Alex Millar, a partner at Bluefish, will take seats on Epana's board of directors as part of the investment. The company, currently in beta-testing with customers, said the money would be used to build out its network and to launch final versions of its products in the second quarter of 2001. Epana was founded in October, 2000 by Elie Seidman, the founder of the Internet service provider Wired Business, and Alexis Rosen, founder of ISP Panix.