Metrobility Optical Systems completes $3.5 million funding round

July 29, 2002--Metrobility Optical Systems announced that it has closed a $3.5 million round of funding led by North Atlantic Capital. The funding includes participation from both new and existing investors.

Jul 29th, 2002

Metrobility Optical Systems announced that it has closed a $3.5 million round of funding led by North Atlantic Capital. The funding includes participation from both new and existing investors.

"Metrobility represents exactly what we look for in an investment opportunity -- an established company with long-standing customer relationships, an earnings track record, and a strong management team in place," stated Mark Morrissette, managing director at North Atlantic Capital. "In our analysis of Metrobility, we were pleased to find that even in the current challenging market, Metrobility's loyal worldwide reseller and customer base continues to generate repeat orders. The core business is fundamentally sound, as both new and established products provide significant value to the end users."

Metrobility develops and manufactures a wide range of network products that enable businesses to deploy fiber connectivity. The newer Radiance fiber access products offer the potential for businesses to further monitor, manage, test and provision network connections. Metrobility primarily uses worldwide resellers to deliver products to end user customers including the New York Stock Exchange, The American Stock Exchange, Chicago Board of Trade, and many other customers that have very 'mission-critical' network requirements.

North Atlantic Capital was able to bring Sierra Ventures, who had previously invested in the company, and CEI Ventures into this financing round.

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