Circadiant Systems secures $10 million in second-round funding
Sept. 10, 2001--Circadiant Systems, Inc. announced it has secured $10 million in its second round of private funding led by TL Ventures, and plans to deliver a new class of equipment designed to substantially change optical testing.
Circadiant Systems, Inc. announced it has secured $10 million in its second round of private funding led by TL Ventures, in an offering not registered under any securities laws, and unveiled plans to deliver a new class of equipment that will substantially change optical testing. The company will offer optical component and equipment vendors the first consolidated, automated and intelligent testing platform to conduct standard everyday tests.
This platform will reduce vendors' development and manufacturing costs while improving productivity and accelerating time-to-market of optical networking gear.
In addition to TL Ventures, EnerTech Capital and PA Early Stage, and all of the first round investors, including Anthelion Capital and angel investor Kal Shastri, also participated in this round. The new capital will help the company accelerate its rapid growth and fuel the development and deployment of its products and services. Circadiant will demonstrate its product at NetWorld+Interop in Atlanta (booth #7056) this week.
Circadiant will soon begin beta testing; regular production is expected to begin in Q401.
Industry analysts recognize that standardized, automated and scalable testing platforms are critical to reducing costs, improving productivity, and achieving profitability from the build-out of the optical Internet. Today, to perform standard, everyday layers 1, 2 and 3 optical measurements, equipment providers and component manufacturers rely on limited functionality and intelligence provided by large, costly general-purpose testing instruments connected through customization. Circadiant's system is designed to be a purpose-built, consolidated testing solution that offers optical companies a standardized, automated platform. Additionally, Circadiant's system reduces troubleshooting time for both new products and field returns by embedding intelligence that allows engineers to quickly and easily diagnose and isolate faults with precision.
About Circadiant Systems, Inc.:
Circadiant Systems, founded by scientists from Bell Labs, is a privately held venture-funded company based in Allentown, Pennsylvania that provides optical component and network equipment makers with a purpose-built, intelligent testing system. For more information, visit www.circadiant.com.