SANTA CLARA, Calif., and ALLEN, Texas -- Metro-Optix, a
telecommunications network equipment provider, today announced it has
closed a third round of financing of approximately $54 million through
the private placement of its newly authorized Series C Preferred Stock.
The company previously announced, on an "interim" basis, $50M in third
round funding on July 23, 2001.
Metro-Optix is lowering the "cost per bit" of the metropolitan optical
networking segment by delivering service providers a next generation,
"protocol agile" bandwidth manager called CityStream.
Van Wagoner Capital leads the third round with Palantir Capital as the
other new participating investor. Repeat investors include JP Morgan
Partners, InterWest, Sevin Rosen, Centerpoint, Bluestream, J W Seligman,
Watsach and others. This third round brings the total amount of funding
to $136 million since the company's founding in December 1999.
"Metro-Optix is pleased welcome Van Wagoner and Palantir to our team and
to receive renewed support from our early round investors," said Arun
Bellary, chairman and CEO of Metro-Optix. "This round is a testament to
the strength of our business plan and product development and our
ability to withstand today's financing challenges. The additional
resources will strengthen our product deployment capabilities and plans
to bring CityStream to carriers worldwide."