Seneca Networks, developers of next generation optical networking equipment, receiveda strong vote of confidence today with the announcement that it has secured over $30 million in venture financing from some of the industry’sbest-known and most discriminating investors.
Having already netted $6.25 million in a first round of venture financing, Seneca’s promising technology and top-flight management team haveattracted an additional $25 million. Investors include New Enterprise Associates (NEA), Sprout Group, Boulder Ventures, Kinetic Ventures, VertexTechnology Fund, New Venture Partners, and Optical Capital Group, LLC (OCG).
“Given the high expectations and conservatism in today’s market, our funding success speaks volumes about our next generation opticalinfrastructure platform,” said Wenli Yu, Seneca Networks President and CEO. “These investors know that carriers are still waiting for functional,scaleable, cost-effective solutions to the problems surrounding broadband growth in metro core and regional optical networks. And they have rightlyjudged that Seneca Networks is poised to deliver the right solutions.”
http://www.senecanetworks.com