BTI makes global push with $15M financing

By Krystle Chow, Ottawa Business Journal Staff
Thu, Nov 6, 2008 11:00 AM EST

BTI Systems has raised US$15 million in its second financing round this year, with Export Development Canada joining in as a new investor.

The Ottawa-based maker of bandwidth-optimizing solutions said it will use the funding to expand its global presence, an announcement that follows the opening of the company's European headquarters in Belfast, Northern Ireland in October and also its Shanghai subsidiary in August. The company has also recently partnered with a reseller in South Africa and is working with global manufacturing giant Flextronics.

"BTI exemplifies excellence in Canadian technology and innovation. With its cadre of international partners, we believe that BTI is poised to experience significant growth and success on the world stage," said EDC vice-president Jennifer Brooy in a statement. "EDC is pleased to be partnering with the BTI team to facilitate their plans for further global expansion."

BTI also raised $5.5 million this May in a venture debt financing round with Wellington Financial.

The company emphasized its potential for growth in a market hungry for bandwidth because of the rise of resource-guzzling sites such as YouTube and other video and media portals.

"Our customers continue to invest in compact, energy-efficience, high service density solutions for high-definition video, wireless backhaul and Ethernet business services," said BTI's chief financial officer Allan Kline in a statement. "We have a strong commitment to delivering solutions that provide our customers with the highest return on investment, and as a result we are seeing our customer base grow."