Bang Networks, a provider of network services that enable businesses to run real-time, enterprise-class applications over the Internet, is expected to announce today that it has closed a $14 million Series B round of funding. The investors include Sequoia Capital, which led the company’s Series A round, and Atlas Venture, whose investment principal Jay Shiveley joins the board of directors. Bang Networks has raised more than $32 million in venture financing to date.
Although Bang’s product is already shipping to customers, the San Francisco-based company expects to use the proceeds to further build up its product offering and expand its sales force on the east coast. Bang is already posting revenue and plans to be profitable by year-end. While the company has no current plans for another round, it hasn’t ruled out a strategic financing down the line.
KnowNow, Bang’s direct competitor, recently landed a $15 million investment from Kleiner Perkins Caufield & Byers, Morgan Stanley Technology Ventures, Palomar Ventures, RSA Ventures, and TPG Ventures.