Laurel Networks Raises $77M

SEWICKLEY, Pa.--Jan. 29, 2001--Laurel Networks, a start-up company developing routing systems for the optical network edge, today announced it has secured $60 million in second round financing, bringing its total funding to $77.3 million. Participants in the funding rounds include leading investment companies NEA, Trinity Ventures, Worldview Technology Partners, WorldCom Venture Fund, Rein Capital, and CommVest. Trinity Ventures led the second round funding and Trinity general partner Fred Wang joins Laurel's board of directors. Laurel, with its strong executive team and highly experienced product development staff, is firmly positioned to lead IP services routing at the network edge with its optical edge routing architecture, an innovation in IP technology that will enable business-centric IP-based services over existing and future networking infrastructures.

"We were attracted to Laurel because they've identified the opportunity for a new generation of edge router with a unique set of capabilities that match the requirements of service providers looking to deploy new, revenue-generating business services," said Rob Coneybeer, general partner at NEA. "Laurel understands the business requirements, and has the right team in place to execute on the vision. The company is well positioned to dominate the emergent optical edge router market in 2001 and beyond."

http://www.laurelnetworks.com