RBN Closes $9.5M Round

RBN pockets $9.5M from existing investors Allen & Buckeridge, Macquarie Technology Fund, Paecal Ventures, and Redfern Photonics

April 20, 2004

2 Min Read

SAN FRANCISCO -- RBN Inc, www.rbni.com, an industry-leading designer and manufacturer of carrier-class reconfigurable optical transport solutions for metro and access networks, today announced the completion of a funding round from existing investors Allen & Buckeridge, Macquarie Technology Fund, Paecal Ventures and Redfern Photonics. The company has raised a total of $45 million since its inception in February 1999.

The company, as part of this round, secured an AusIndustry Start Grant worth up to $4.5M (AU$6.1M) from the Australian Federal Government to help fund the development of its next product line at its R&D headquarters in Sydney, Australia.

“RBN is making significant progress in the market as evidenced by its recent announcements with PCCW and Marconi. Our existing transport solutions are well designed for the current market need, allowing our customers to provide just enough bandwidth, just in time,” said Jim Fultz, CEO and president of RBN. “This funding round and the Start Grant will support expansions in our target market and new product developments.”

The RBNi GigaEdge 8200 was first launched in mid-2002 and is deployed in many live systems in North America and Asia Pacific. The GigaEdge 8200 offers significant differentiation through its small size, simplicity and flexibility. It is a full carrier-class transport system that offers unprecedented performance monitoring capabilities and high availability. All aspects of the system, including full wavelength channel reconfiguration, can be controlled or monitored remotely.

“Over the past 12 months RBN has achieved significant milestones relating to market traction,” said Matthew Koertge, director of DB Capital Partners in Australia, an investor in RBN through its shareholding in Redfern Photonics. “RBN has demonstrated an excellent ability to respond to market demand and through its business strategy should add significant value to the company over the coming months.”

Recently, RBN has announced a two-year supply agreement with PCCW and a five-year reseller agreement with Marconi.

RBN Inc.

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