Fourth round of funding, led by Firsthand Capital Management, raises total to more than $150 million

April 9, 2001

1 Min Read

SUNNYVALE, Calif. -- LuxN, Inc., a provider of multi-service, intelligent, metropolitan optical access network platforms, today announced that it has secured in excess of $55 million in debt and equity financing. Funds will be used to continue expanding LuxN¹s optical product offerings and to increase the company¹s penetration in international markets. With this new round, investments in LuxN are over $150 million.The Credit Suisse First Boston Technology Group acted as the sole placement agent for the equity financing, which was led by Firsthand Capital Management. Wheatley Partners, Berger Funds, Sands Brothers and GE Capital also participated in this new round of financing, joining previous investors such as New Enterprise Associates, U.S. Venture Partners, Menlo Ventures, Credit Suisse First Boston, Azure Capital, Thomas Weisel Partners, WR Hambrecht, Mitsubishi, Mitsui and Siemens.

"The success of this fourth round of funding is an extraordinary vote of confidence for our vision and technology, particularly in the current financial market environment," stated Tom Alexander, LuxN president and CEO. "Our backing by these top caliber private equity firms will allow us to continue our successful expansion domestically and internationally."

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