KeyEye Closes $15M

KeyEye raises $15 million in Series B financing

May 26, 2004

1 Min Read

SACRAMENTO, Calif. -— KeyEye Communications, Inc., a leader in semiconductor transceivers for 10 gigabit per second (Gbps) copper-media communications, announced today the closing of an oversubscribed $15 million Series B financing. The funds will be used to continue the company’s aggressive research and development program and to add the engineering, marketing and operations personnel necessary to bring KeyEye’s innovative semiconductor products to market.

KeyEye’s leadership position in the 10 Gbps copper-media transceiver race attracted Menlo Ventures to lead the investment round. As part of the financing, Hal Calhoun, managing director at Menlo Ventures, will take a seat on the company’s board of directors, joining Harvey Scull, president and chief executive officer of KeyEye, Dr. Robert Pepper, the former CEO of Level One Communications and KeyEye chairman, Harry Laswell, founding partner of American River Ventures and Bart Schachter, managing partner at Blueprint Ventures. American River and Blueprint Ventures had led KeyEye’s Series A financing in early 2003.

“Significantly reducing the cost per gigabit for 10 Gbps communications is the most difficult challenge faced by OEMs developing next-generation data center equipment,” noted Mr. Calhoun. “By powering 10 Gbps communication modules that are less expensive than their optical counterparts, and by permitting standard category 5e/6 cables to be used in place of costly optical fiber, KeyEye’s transceiver technology uniquely positions the company to capture a very substantial share of the market.”

KeyEye Communications Inc.

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