Chorum Scores $54.7M

Investors include CenterPoint Ventures, InterWest Partners, Sevin Rosen Funds, Scudder-Kemper Investments,and Star Ventures

October 24, 2001

1 Min Read

RICHARDSON, Texas -- Chorum Technologies, a leading provider of all-optical processors and subsystems for low-cost optical networks, announced that it has raised $54.7 million of private equity funding from new and existing investors, including CenterPoint Ventures, InterWest Partners, Sevin Rosen Funds, Scudder-Kemper Investments, Star Ventures, Wheatley Partners, Austin Ventures, Rho Management Trust, Crown Advisors International, Azure Capital Partners, Sycamore Ventures, Bowman Capital Management and J. & W. Seligman Co. The round was completed in September 2001. The new capital, combined with capital on hand, will fund more than two years of growth for the company. The funds will be used to build upon the company's existing family of differentiated products, continue to expand the company's substantial base of leading customers and ramp new products into production. Since the start of this year, Chorum Technologies has quadrupled its base of commercial customers and has expanded its product offerings by threefold and now has more than 20 products that are commercially available for customers. "We are very appreciative of the confidence and commitment of both our new and existing investors, who recognize that Chorum Technologies has differentiated products, a strong base of tier-one customers and a talented team to execute its business plan," said Scott Grout, president and CEO of Chorum Technologies. "Today, cash is a critical differentiating resource for companies and we are pleased to have the capital on hand to fully fund the growth, development, delivery and sales of our products." Chorum Technologies Inc.

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