Israeli start-up Flash Networks Ltd., a Challenge Fund II portfolio company, has completed raising $15 million in its fourth financing round. The round was closed fairly quickly, and was led by HarbourVest Partners and Argonaut Partners LLC of US, alongside existing investors, Israeli founds Challenge Fund-Etgar, Evergreen Venture Partners, Giza Venture Capital.

Flash Networks CEO Liam Galin says the company is struggling to meet demand for its products. "The company could raise substantial capital, which will enable it to expand its sales effort. We've strengthened our financial foundations and won the support of both existing and new investors whose stamp is mark of honor. The financing round will enable us to continue to grow and meet demand."