BigBand Scores $27 Million

Has raised a total of $57 million in three rounds; new investors include Charles River Ventures, Lauder Partners, and CommVest

April 29, 2002

1 Min Read

FREMONT, Calif. -- BigBand Networks, Inc., a leading provider of broadband multimedia routing systems for broadcast television and advanced services, announced today that it has closed a $27 million financing round. To date, the company has raised a total of $57 million in three rounds. New investors include Charles River Ventures, which led the round, Lauder Partners and CommVest. All of the company’s prior venture capital investors, Redpoint Ventures, Pilot House Ventures, Cedar Fund and Evergreen Investments, are also participants. BigBand Networks intends to use its funds to expand sales, marketing and development of the Broadband Multimedia-Service Router (BMR™). The company recently announced that two quarters after commercial launch of the BMR’s digital broadcast capability, the product serves more than 500,000 digital cable subscribers in live North American installations. BMR customers include Time Warner Cable, Cox Communications, Rogers Cable and Blue Ridge Communications.“The BMR is proving to be a product with profound implications for digital cable network operators, as a platform for managing bandwidth, network resources, and video and other media, across a range of advanced services,” said Santo Politi, general partner, Charles River Ventures. “BigBand Networks uniquely brings together industry-leading capabilities in both communications technologies and multimedia processing to achieve this positioning.” Politi, who will join BigBand Networks’ board of directors, added. “We are greatly impressed with the company’s success in its sales growth by supporting digital video broadcast, high definition television, video on-demand and interactive television. These advanced services over digital cable networks represent major focuses for Charles River Ventures and me personally. BigBand Networks has overcome steep challenges which we understand well, and we look forward to being part of the company’s future growth and success.”BigBand Networks Inc.

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