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Funding for startups

White Rock Scores $60M

DALLAS -- White Rock Networks, a leading provider of next-generation optical transport systems for the local metro transport market, today announced the completion of $60 million in third-round venture funding. This round brings the total funds raised by White Rock Networks to $102 million since its inception in 1999. In previous rounds, the company raised $12 million in February 2000, followed by $30 million in June 2000. The latest round included pro-rata funding from previous round investors: Oak Investment Partners, Mayfield Fund, Meritech Capital and Hook Partners. New investors include Fremont Communications, Fremont Ventures, Investor AB (through its wholly owned subsidiary, Investor Growth Capital), Gulf International Bank, Cypress Semiconductor and Pacesetter Capital Group. “This round of funding affirms that White Rock’s building-block approach to the metro optical transport space is on target. We're building multiple, discrete-function transport products which are designed to provide best-of-breed price/performance and fit into carriers' existing networks without making their entire network obsolete,” said Lonnie Martin, White Rock's Founder/CEO. White Rock Networks
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