RBN secures $11 million in funding

January 29, 2003--RBN today announced the completion of its series C funding totaling $11 million from existing investors Allen & Buckeridge, Macquarie Technology Ventures, Optical Capital Group (OCG), Paecal Investments, and Redfern Photonics.

Jan 29th, 2003

RBN, designer and developer of carrier class optical transport and switching platforms for access and metro markets, today announced the completion of its series C funding totaling $11 million from existing investors Allen & Buckeridge, Macquarie Technology Ventures, Optical Capital Group (OCG), Paecal Investments, and Redfern Photonics. 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," asserts Peter Chambers, chief executive officer 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 has designed and developed what they claim is the first-to-market 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, say company representatives.

RBN is headquartered in San Francisco, CA, with research and development facilities in Sydney, Australia.

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