Network Photonics Raises $106.5M

Startup targets bandwidth management in all-optical metro nets

October 23, 2000

1 Min Read

BOULDER, Colo. -- Network PhotonicsTM, a third-generation optical networking company, today announced that it has closed on $106.5 million in funding from industry leading venture capitalists in its second round of financing.

Leading the round is The Sturm Group, with Spectrum Equity Investors, Mustang Ventures, New Enterprise Associates (NEA) and US Venture Partners (USVP) co-investing. Greg Williams, principal of The Sturm Group, and Neal Douglas, managing general partner for Spectrum Equity Investors, will each take a seat on the Network Photonics board of directors. Earlier in the year, NEA and USVP led the company's first round financing for $10 million, bringing Network Photonics' total dollars raised to $116.5 million.

Network Photonics is developing third-generation, all-optical networking systems to enable the delivery of managed wavelength services into metropolitan areas. This in turn alleviates the growing gap between gigabit end-user networks and terabit fiber optic backbones. Based on its proprietary CrossWaveTM DWDM switching technology, Network Photonics' systems will eliminate the need for optical-to-electronic-to-optical conversions, thereby increasing performance while decreasing the cost of the network.

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