Transparent Networks grabs $20M in second round of funding, led by U.S. Venture Partners

February 25, 2002

1 Min Read

SANTA CLARA, Calif. -- Transparent Networks, Inc., developer of intelligent photonic switching systems, today announced the completion of $20 million in second round venture funding. This round brings the total funds raised by the company to $30.2 million since its inception in June 2000. At a time when investors are being more cautious with their investments, this new funding is a clear expression of the confidence that investors have in Transparent's ability to solve the challenges of photonic switching in the all-optical network."We are extremely pleased to receive the new funding. Our investors recognize the opportunities our cutting edge technology provides in the transparent optical switching market. With the financial strength and stability this funding provides for Transparent, we're in an ideal position to execute our strategic plan to deliver a flagship product that meets our customers’ high standards," said Dr. Janusz Bryzek, Transparent’s President and CEO. The lead investor in this round was U.S. Venture Partners (USVP). Reaffirming its commitment to Transparent Networks, the latest round included pro-rata funding from previous round investor Benchmark Capital.Transparent Networks Inc.

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