San Francisco, February 3, 2003. RBN has completed its series C funding totaling $11 million from existing investors Allen & Buckeridge, Macquarie Technology Ventures, Optical Capital Group (OCG), Paecal Investments and Redfern Photonics. To date the company has raised a total of $40 million since its inception in February 1999.
"The closure of the series C round of funding validates the support of existing investors and their confidence in the market opportunity for RBN's solution set," said Peter Chambers, CEO of RBN. "The funding will support our current business plan, expand product developments and help to expand, on a global basis, our sales efforts."
RBN designed and developed the first to market wavelength division multiplexing (WDM) system that can be used in the central office, outside plant remote terminals and enterprise environments. RBN continues to make strides in the marketplace through its first channel partner and continuing sales of the company's first product.
"Despite the current telecommunications market environment, RBN is achieving meaningful milestones with a seasoned development team as well as an experienced management team. The company is listening to the market needs and developing robust, low-cost products to meet those needs. In the first six months of their first products' availability, RBN has achieved significant commercial traction," said Max Straube, general partner of OCG, a participant in the series C round. "This is a solid and remarkable start for any company during these difficult economic times."
RBN is a designer and developer of carrier-class optical transport and switching products for the access and metro markets. RBN has identified and addresses a key issue - an imbalance between carrier revenues and costs. RBN addresses the issue by designing, developing and integrating products that enable carriers to offer lower cost broadband services. Designed for simplicity and flexibility of use, small form factor, low power usage and low cost of ownership, they push the boundaries of optical networking closer to the end user.
RBN's business model is to market and distribute its products through leading communications manufacturers and solution providers. RBN is headquartered in San Francisco, CA with research and development facilities in Sydney, Australia.
To learn more about RBN visit www.rbni.com .
WDM Solutions