White Rock Scores $42M

White Rock Networks secures $42M in Series D round, led by Oak Investment Partners and including all of its existing investors

December 17, 2002

2 Min Read

DALLAS -- White Rock Networks, a provider of next-generation optical transport systems for the local metro transport market, today announced the completion of $42 million in fourth-round Venture funding. The funding will be used to continue the development of White Rock’s modular family of optical networking products and support the continued growth of its sales and support activities. This round will carry the company all the way through cash-flow positive operations and brings the total funds raised by White Rock Networks to $144 million since its inception in 1999. In previous rounds, the company raised $12 million in February 2000, followed by $30 million in June 2000, and $60 million in November 2001. Led by Oak Investment Partners, all of White Rock’s existing major investors (Oak Investment Partners, Mayfield Fund, Meritech Capital, Fremont Communications, Fremont Ventures, Investor AB (through its wholly owned subsidiary, Investor Growth Capital), Hook Partners, Gulf International Bank, Pacesetter Capital Group) have invested again. In addition, a new major investor, 3i, a leading international venture capital investment firm has joined the round. Based on figures from the National Venture Capital Association the round features in the top 25 late- stage venture rounds of this year. “White Rock is one of the very few optical systems companies to have found a product strategy which accomplished two important things: best-of-breed products in today’s SONET transport market, and the architectural openness to just as effectively evolve with the market and with new component technologies,” said Nelson Stacks, an investment director with 3i who will join White Rock’s Board. “We really think their modular product family architecture can make them one of the long term winners in this space, and we expect their approach to become a template for future metro solutions.” White Rock Networks

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