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July 9, 2001 3:15 PM PDT

Aventail raises $48 million

Aventail has raised $48 million in a fifth round of funding, led by Oak Investment Partners and GRP Partners. Previous investors Morgan Stanley Technology Ventures, Fidelity Ventures, Pivotal Asset Management, Trinity Ventures, Madrona Venture Group and XMLFund contributed to this round. The Seattle-based company has raised a total of $106 million. Aventail's service is designed to securely connect a company's employees, customers, suppliers and business partners to its internal network applications via a browser.

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