ZettaCom, Inc., a supplier of high-performance and configurable optical silicon solutions, announced it has successfully completed the closing of its Series B equity round with a total amount of $47.5 million. This round helps position ZettaCom in the semiconductor components arena, and brings the total amount of equity financing issued, raised and committed to $58.5 million since the company's inception in 1999.
According to RHK, a telecommunications market research firm, the optical silicon market currently represents 15 percent of total service infrastructure spending. Optical silicon devices will result in a market that will grow to over $12 billion in 2005. ZettaCom's background and product strategy will position it in this emerging market.
ZettaCom has had over twelve major design wins in the last seven months. The company's recent infusion of funds will accelerate the build-out of ZettaCom's specialized communication ICs (integrated circuits), expansion of its national operations, further development initiatives, and continued growth of the company's highly skilled, professional teams.
Venrock Associates led ZettaCom's first round in 1999. The new investors in the Series B round include: Granite Global Ventures, J. & W. Seligman & Co., Development Bank of Singapore, JPMorgan Partners (NYSE: JPM), k1 Ventures, Vertex Management, Crimson Ventures, Infineon Ventures, U.S. Bancorp Piper Jaffray (NYSE: USB), SG Cowen Ventures Fund, Banc of America Securities LLC (NYSE: BAC), and United Investments. They now join the prestigious group of ZettaCom's original investors, Venrock Associates and Norwest Venture Partners, both of which contributed to this financing round.
ZettaCom is pleased to welcome Scott Bonham, Managing Director with Granite Global Ventures, to the Board of Directors of the company.
About ZettaCom Inc.:
ZettaCom provides Optical Silicon solutions, a new breed of specialized ICs that provide the hardware intelligence within an optical network system. For more information, visit www.zettacom.com.