Kodeos Secures $6M

Kodeos Communications gets an additional $6M in funding in a Series A extension round, bringing total funding to over $22M

June 18, 2003

2 Min Read

SOUTH PLAINFIELD, N.J. -- Kodeos Communications Inc., a leading provider of 10 Gbps enhanced-performance optical subsystems, today announces that an additional $6M in funding was secured in a Series A extension financing round. Total capital investments from Highland Capital Partners and Jerusalem Venture Partners, including debt financing from Comerica, now exceed $22 million.

"Kodeos has exceeded our performance expectations by building an exceptionally strong management team and achieving technology validation from Tier 1 level customers," said. Glen Schwaber, Partner at Jerusalem Venture Partners. "With the recent additions of John Wyatt from JDS and Scott Jackson from Tyco Telecommunications, Kodeos continues to be a magnet for the industry's top talent. We are pleased to provide ongoing financial support for Kodeos and believe the company has the leadership and technology recipe for sustained success."

Kodeos' enabling technology reduces, over 50%, the metro and regional network deployment cost by allowing twice the distance between 10 Gbps network elements. The company will use the additional proceeds to advance its market leadership position through continued product development and manufacturing readiness preparation.

"As service providers and system developers push for more economical yet flexible networks, Kodeos' value proposition continues to become more compelling. Kodeos' links are immune to dispersion penalties up to 200 kilometers, eliminating fiber compensation cost and engineering issues," says Jon Auerbach of Highland Capital Partners. "The company continues to perform well against pre‑established corporate milestones and we are pleased with the further validation of emerging market applications and the growing customer interest in Kodeos' solutions."

During the OFC2003 tradeshow in Atlanta, GA (March 25-27), Kodeos demonstrated its technology that is capable of 200 km optical transmission without dispersion compensation or forward error correction.

Kodeos Communications Inc.

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