Multimillion-dollar strategic investment to finance rollout of U.S. and European optical gateway networks

August 15, 2000

1 Min Read

NEW YORK – Sphera Optical Networks, Inc., one of the first providers of "all-optical" metropolitan gateway networks that supply high capacity bandwidth to carriers, Internet Service Providers (ISPs), Application Service Providers (ASPs) and worldwide service providers, today announced the closing of $70 million in equity financing. The investment will support the company’s initial roll out of an optical gateway network in twelve U.S. and two European cities.

Mayfield Fund led this round of equity investment. Other investors include Soros Private Equity Partners, Pequot Capital Management, Oak Investments Partners and Worldview Technology Partners.

"The quality and experience of investors participating in this round of funding is a major endorsement of Sphera’s strategy and will help us to aggressively pursue the company's business initiatives," said Louise Bell, Chief Financial Officer (CFO) for Sphera.

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