Chiaro Closes $100M 3rd Round

Polaris Venture Capital is the lead investor in the latest round

September 25, 2000

1 Min Read

RICHARDSON, Texas -- Chiaro Networks, a pioneering optical networking company that is developing solutions for the most challenging bottlenecks in carriers’ optical backbones, today announced that it has completed its third round of financing for more than $100 million. Company officials believe this places Chiaro Networks in an extremely elite group of companies in this sector that have raised more than $100 million in a financing round. To date, the company has raised a total of $130 million.

Polaris Venture Capital is the lead investor in the latest round of financing. Koor Corporate Venture Capital is the co-lead. “There is a tremendous need in the market for optical networking equipment that will scale even faster than before,” said Aaron Mankovski, managing director at Polaris Venture Capital. “So far, other solutions have not performed as well as the market requires. We believe Chiaro is the first company to have all the components in place – management, technology, and market demand – to deliver the performance and scalability that is critical to the industry.”

http://www.chiaro.com

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