Provider of optical net management software closes equity investment round led by William Blair Capital Partners and Lovett Miller & Co.

April 10, 2001

1 Min Read

LINCOLNSHIRE, Ill. -- Clear, a global supplier of core optical, broadband and digital transport network management software, has closed a $20 million round of equity financing led by William Blair Capital Partners VII of Chicago. Lovett Miller & Co. Incorporated, of Tampa and Jacksonville, Fla., made a significant co-investment in the round. The financing will be used to strengthen Clear's position as the service assurance software leader for optical network management. According to an RHK February 2000 report, the service assurance market in North America alone will grow to more than $6 billion in 2003. Other investors continuing their financial relationship with Clear include Alpha Capital Partners, BT Investment Partners, Inc., Landmark Partners, St. Paul Venture Capital and Willowridge, Inc.

"Clear is at the forefront of an industry that will experience rapid growth for many years as the expectations for faster, higher bandwidth connections continue to exceed network capacity," said Ellen Carnahan, Managing Director with William Blair Capital Partners VII, who was recently appointed to Clear's board of directors. "Clear has 12 years of telecommunications experience, unique competencies in optical networking, a strong management team and one of the most talented product engineering teams we've seen. William Blair Capital Partners is proud to add Clear to its portfolio of companies who are defining the technology choices for communication service providers."

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