Agility Communications, Inc., a provider of widely tunable lasers for the metro, switching, and long-haul markets, announced that General Motors Investment Management Corp. is leading its third round of venture funding worth $83 million. This round brings the total amount of funding that Agility has received to nearly $170 million. Agility also announced the appointment of two additional board members in conjunction with this funding news.
Funded by existing investors Morgenthaler Ventures and U.S. Venture Partners, the round is joined by strategic investors, CIENA Corp. and Tellabs, two optical networking equipment manufacturers. Agility also received financial support from existing investors Meritech Capital Partners and Worldview Technology Partners, and from new investors Alliance, Global Strategic, and Granite Global Ventures. Goldman Sachs, a global investment banking and securities firm, served as an agent for the company.
Agility is a tunable laser company that has shipped production quantities of widely tunable lasers to multiple customers and samples to more than 30 customers. Providing integrated solutions in optical networking infrastructure, Agility meets the price and performance requirements of the metropolitan-core, switching, and long-haul markets, while reducing the cost and complexity of providing agile networks. Agility's solutions are designed-in by optical equipment manufacturers to help service providers deliver high bandwidth and maximize existing network resources at the lowest cost.
ElectroniCast, Corp., a technology-based independent forecasting firm, forecasts that the global DWDM optical component market will grow from $2.85 billion in 2000 to over $8.4 billion by 2004.
About Agility Communications, Inc.:
Agility Communications, Inc., a provider of widely tunable lasers for metro, switching, and long-haul markets. For more information, visit www.agility.com.