Fiberzone Gets $8M

FiberZone announced the closing of its second round of venture financing

March 27, 2006

2 Min Read

BETHESDA, Md. -- FiberZone Networks Inc., a provider of automated connectivity systems for the efficient management of the physical fiber optic infrastructure, announced today the closing of its second round of venture financing. The deal was led by Novak Biddle Venture Partners, with existing investors Portview Communications Partners and Stage One Ventures participating. The $8 million round brings the total investment in FiberZone to $11 million. The funding will enable the company to enter the market later this year, following Beta trials with tier one customers scheduled for the spring and summer.

"We are always attracted to companies addressing a large market opportunity with a sustainable technology advantage," said Tom Scholl, Novak Biddle Venture partner. "FiberZone is tackling a major, unfulfilled requirement of fiber network operators that will only get bigger as fiber pushes out to the end-user. Their technology is uniquely suited to fiber management applications, with very strong optical performance, power-less latching mechanism, and scalable, low-cost architecture. This compelling combination of a strong value proposition and favorable competitive advantage has led us to make our first investment in a company based outside of the US," Scholl added.

"We have witnessed FiberZone generate strong demand for its fiber management solutions from many of the biggest carriers in the world," said Julie Kunstler, managing partner of Portview. "We are delighted to continue supporting the company as it evolves from initial product development to market entry."

"We shared the vision of the FiberZone founders in 2003 that lowering the cost of ownership of the fiber infrastructure was a key industry imperative," said Moshe Katzenelson, of Stage One. "Now that network operators are investing in their networks again, it is clear that FiberZone is coming to the market with the right product at the right time."

"We are proud to have a strong, US-based investor, with industry knowledge and contacts leading our Series B round," said Gil Eyal, president and CEO of FiberZone. "Novak Biddle has an incredible track record of building successful technology companies, and their experience complements the vast domain expertise of Portview and Stage One. We greatly value the continued support of our existing investors, whose substantial follow-on investment is an indication of their confidence in the company and market opportunity."

FiberZone Networks

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