Transparent Networks raises $20 million in second round financing

February 25, 2002--Transparent Networks Inc., developer of intelligent photonic switching systems, today announced the completion of $20 million in second round venture funding, bringing the total raised by the company to $30.2 million since its inception in June 2000.

Feb 25th, 2002

Transparent Networks Inc., developer of intelligent photonic switching systems, today announced the completion of $20 million in second round venture funding, bringing the total raised by the company to $30.2 million since its inception in June 2000.

The lead investor in this round was U.S. Venture Partners (USVP). The latest round also included pro-rata funding from previous round investor Benchmark Capital.

An innovator in the field of MOEMS, Transparent develops products specifically designed to dramatically reduce the cost, size, and power of carrier core networks. Target customers are carriers and system vendors supplying core optical switching infrastructure for the public network.

"Transparent Networks has the potential to dramatically reduce the capital and operational expenditures associated with carrier deployment of highly scalable transparent optical switches," contends Stuart Phillips, general partner at U.S. Venture Partners. "The company's innovative iTOSS architecture will yield significant performance and cost benefits in several central-office optical switching applications, including DWDM line protection, trunk provisioning, and junction switching. This combination, coupled with management's multi-disciplinary engineering expertise--MOEMS, optics, packaging, control systems and electronics--and proven track record, will produce critical products that enable carriers to be successful in solving the bandwidth needs of their customers," he claims.

For more information about Transparent Networks Inc. (Santa Clara, CA), visit the company's Web site at www.transparentnetworks.com.

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