Maple Nabs New Funding

Maple Optical Systems has closed a $40 million funding round this week, bringing the equipment maker's total raised to date up to around $100 million, according to several published reports.

But the published reports are premature, according to Maple's senior director of marketing, Emma Rugge-Price. "The round hasn't actually closed yet, and that's why we can't comment," she says. "There's still a term sheet out to one of our investors, so the Series C amount isn't final."

Light Reading has learned that word got out through one of Maple's investors at Charter Venture Capital, which is investing in Maple for the first time during the Series C round. Charter's venture partners could not be reached for comment Thursday morning.

Maple is reportedly building a box that will eliminate the need for Sonet add/drop multiplexers and ATM switches by putting IP and other kinds of network traffic directly over fiber. Central to Maple's scheme is multiprotocol label switching (MPLS), a protocol that aims to allow data to be routed through networks more quickly while improving performance and quality-of-service issues.

The company's investors include Texas Pacific Group, Amerindo Investment Advisors, Aurora Technology Fund, Leapfrog Ventures, McQuillan Ventures, Siemens Venture Capital (SVC), Technology Crossover Ventures, and Charter, as well as Raza Foundries, which initially invested $9 million in the company.

Maple's last round of funding, a $50 million round, occured less than a year ago (see Maple Gets $50M for MPLS Box).

Light Reading
netsavvy 12/4/2012 | 7:55:06 PM
re: Maple Nabs New Funding Since when are Mahi or Tenor incumbents? Neither one has announced a contract, nor are they installed in any production networks. Most people would define an incumbent as the vendor who is installed and currently running in the production network. I don't believe there is a service provider anywhere that has made a product selection in this space. They are trying to decide if there is any real value to this product category. I heard Tenor was not one of the top companies selected for an RFQ at Qwest and is searching for a new hot prospect. There hasn't been any customer news out of them since the company was launched in January 2001. Since their sales leadership is all based in Canada with the company HQ in Massachusettes it makes you wonder how much confidence they have in the company. All of these companies will struggle to win any business. Juniper can do most of what these guys claim and Cisco has been getting closer. Why incur the cost of a new vendor (operational, maintenance, planning, administrative, etc.) with minor QoS/CoS advantage. I would hate to have anyone think that Mahi, Tenor or anyone else is an incumbent. I certainly would not invest money in this product category.
roomyroom 12/4/2012 | 7:55:13 PM
re: Maple Nabs New Funding
Coree, another core MPLS
making similar claims is in
trouble. They did read the
writing on the wall not visible to
these core MPLS boxes.
roomyroom 12/4/2012 | 7:55:14 PM
re: Maple Nabs New Funding
You got that right!
No one expected these clowns to be
be funded again.
Guess there are bigger clowns still
in town.
downreading 12/4/2012 | 7:55:14 PM
re: Maple Nabs New Funding You seem to be a smart-ass empolyee.
How many stocks does your "ma-pale"
give you for defending the company
at this board.
It's these kind of mee-too products and
and scams that have brought the
optical space to where it stands today.
These guys are getting beaten hands down
by mahi and tenor for evey customer RFP.
They have nothing new to offer compared
to the incumbents
tom 12/4/2012 | 7:55:20 PM
re: Maple Nabs New Funding WOW! You seem to be an expert in this area, what company are you running these day's?
HarveyMudd 12/4/2012 | 7:55:26 PM
re: Maple Nabs New Funding There is no novelity in in the product that Mapple Networks has been annoncing for the last 12 months or so. It is just way to get the VC money and kep the company afloat as long as it can.

It is really schoking that Vs would put money in this company.
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