Newark, CA, September 13, 2002 -- LIGHTCONNECT, a supplier of dynamic components and modules for optical networks, has raised $9 million in its third round of financing, led by Sevin Rosen Funds. Other participating investors include Incubic, Morgenthaler, U.S. Trust, U.S. Venture Partners and Optical Capital Group.
This latest round of funding will be used to expand LIGHTCONNECT's product portfolio, leveraging its MEMS technology expertise. It will also fuel domestic and international expansion through increased sales and marketing efforts. The company's products include market-leading Variable Optical Attenuators, Dynamic Gain Equalizers and Dynamic Channel Equalizers.
"Dynamic components will serve as the building blocks for the truly intelligent optical network of tomorrow, and LIGHTCONNECT is laying the foundation," said Steve Domenik, general partner of Sevin Rosen Funds. "We are confident that LIGHTCONNECT's innovative technology, combined with the company's strong management team, will succeed in this tough market."
"During the past year, we have brought on more than 50 customers and have achieved continuous quarter-to-quarter increases in revenue," said Peter O. Clark, LIGHTCONNECT President and CEO. "This current round of funding validates the quality of our products and our business model."
LIGHTCONNECT designs and manufactures dynamic MEMS-based, fiber optic components and modules for next generation intelligent optical networks. The company's proven solutions meet the rapidly growing need for configurability in optical networks. LIGHTCONNECT's Diffractive MEMS technology utilizes the wave nature of light to build products that offer superior optical performance and best-in-class reliability.
For more information, visit www.lightconnect.com .
Laser Focus World