The extra cash brings total funding to $43 million and appears to reflect an upbeat mood about the direction the CWDM equipment pioneer is taking towards international expansion and towards a broader product portolio.
The new funding is an “up round,” according to Michael Crossey, Transmode’s VP of marketing and business development. In other words, it values the company at a higher (but undisclosed) figure than that used in previous rounds. The latest round also includes a new investor, Harbour Vest Partners LLC. Existing investors -- Amadeus Capital Partners Ltd., Pod Holding, and European Equity Partners -- also participated.
Crossey says the following factors might have helped in raising the extra cash:
— Peter Heywood, Founding Editor, Light Reading