World Wide Packets Raises $44MWorld Wide Packets Raises $44M

Gigabit Ethernet broadband access manufacturer closes first round, led by Azure Capital Partners of San Francisco

January 8, 2001

1 Min Read

SPOKANE, Wash. -- World Wide Packets, the premier solutions provider for optical broadband connectivity, today announced it has completed its first round of outside financing, which yielded $44 million. This brings to more than $60 million the total amount raised since the company launched operations in January 2000, with the initial funds previously provided by founders, employees and others close to the company. The new Series A financing was led by Azure Capital Partners of San Francisco and also involved participation by Rock Creek Capital of Jacksonville, Fla., Corning Innovation Ventures, a division of Corning Incorporated, Millennium Technology Ventures, LP, and Koch Ventures, Inc. among others.

"Our objective in this round was to attract partners who share our vision and who bring benefits to World Wide Packets beyond just the capital itself," said Daniel T. Reiner, chairman of World Wide Packets. "I am very pleased with the recognition and confidence shown by the investors during these challenging financial times in the value already created by the company and the opportunities which lie ahead."

http://www.worldwidepackets.com

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