Gemfire Raises $37M
The growth round was expanded to more than double the face value of the offering to accommodate the interest level of several new investors. In addition to the participation of previous investors, the new investor group, led by Loudwater Partners, included Centaurus Capital, Uberior Equity Ltd., and Palo Alto Investors. ThinkEquity Partners, acted as the exclusive placement agent for the offering.
"We are very pleased to be supported by a visionary group who recognize that the recent shift to video over the Internet and brisk demand for bandwidth in optical telecom are again creating a unique growth opportunity," said Richard Tompane, president and CEO of Gemfire. "While the industry restructured, Gemfire expanded operations through acquisitions of key planar technologies that provided the opportunity to leapfrog to the leading edge of optical networking products. Our integration technology for planar lightwave circuits creates higher performance and more scalable solutions for global network system providers which has resulted in ever increasing revenue growth."