Openet raises €22.8m in the US

Openet Telecom, a Dublin-based technology firm founded just two years ago, has won $20 million (€22.8 million) in funding from a major US venture capital (VC) firm. Openet, which develops software that captures and measures traffic on telecoms networks, also announced it made $10 million revenues in its second year. The latest funding comes from the European fund run by Benchmark Capital, a US firm that recently hired former Digifone boss, Mr Barry Maloney as general partner.