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Portview Communications Partners and Stage One Ventures lead $3M round for FiberZone Networks, with help from the Israeli government
November 5, 2003
TEL AVIV, Israel -- FiberZone Networks, a new company developing solutions for automated fiber management, announced today the closing of its Series A financing, raising $3 million. The round was co-led by Stage One Ventures and Portview Communications Partners, both funds focusing on investments in the communications sector. Heznek, the Seed Fund of the Government of Israel, also participated in the round.
Founded earlier this year by Yossi Arol and Zohar Avrahami, FiberZone Networks develops and markets intelligent solutions that facilitate the management of fiber optic infrastructure. Using FiberZone’s scalable, low-cost modules, customers can reduce costs and increase revenues by automating the provisioning, trouble-shooting and management of the physical fiber layer. Yossi Arol, a communications industry veteran, previously founded Flexlight Networks and gained extensive experience in the optical networking business at ECI Telecom. Co-founder Zohar Avrahami is a serial entrepreneur with a successful track record of managing complex optical and electronics development efforts.
FiberZone has begun recruitment of its initial employees and will be headquartered in Tel Aviv.
“An entrepreneur starting a new venture in this environment needs partners with deep industry understanding, a solid network of contacts, and the patience to help build a business,” said Yossi Arol, co-founder and CTO of FiberZone. “We are grateful for the vote of confidence we have received from ourt venture capitalists.”
“History shows that good companies are funded in bad times,” said Yuval Cohen, Managing Partner of StageOne. “The founders of FiberZone are true entrepreneurs, with the vision and perseverance to create a successful venture.”
“As a fund that invests in ‘TCB--Things Carriers Buy,’TM Portview is always on the look out for areas of the network where technology can substantially reduce costs and improve carrier operations,” stated Robin Hacke, a founding partner of Portview. “The founders of FiberZone are communications industry veterans with the experience to spot opportunities in neglected layers of the network.”
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