Capella, provider of Wavelength Selective Switches (WSS) for use in ROADM applications, raises $20M in equity and debt financing

March 15, 2007

1 Min Read

SAN JOSE, Calif. -- Capella, the leading provider of Wavelength Selective Switches (WSS) for use in reconfigurable optical add/drop multiplexers (ROADM) applications, today announced the completion of $20 million of equity and debt financing. The round was co-led by Levensohn Venture Partners and Rustic Canyon Partners and included funding from Formative Ventures, as well as participation by existing investors. Square1 Bank provided the banking and debt facilities. As part of the transaction, Kip Sheeline from Levensohn Venture Partners and Michael Kim from Rustic Canyon Partners will join Capella’s Board of Directors. Capella will use the funds to accelerate shipments to existing customers and to expand its product lines to serve additional markets.

"We are excited to add a new group of top-tier investors who share Capella’s vision," said Larry Schwerin, CEO of Capella. "Having their support validates our business model and enables us to meet the high-level of customer demand for our products. It is critical that we take advantage of our momentum domestically and internationally by expanding Capella's product family and market opportunities and by further scaling our manufacturing operations at Fabrinet. This capital also enables us to more effectively support our strategic relationship with Furukawa, and to ensure complete customer satisfaction during a period of rapid growth."

"We are very excited about the Capella investment. The company has an outstanding team, a best-in-class family of products and an excellent value proposition for its customers. It is the clear industry leader in delivering next-generation WSS solutions," noted Kip Sheeline, Managing Director, Levensohn Venture Partners. "As bandwidth demands on metro and long-haul infrastructure grow world-wide, the performance and flexibility of our solution lends itself to a large and growing number of carrier and MSO network deployments."

Capella Photonics Inc.

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