Fiberxon scores $20M Series C funding

June 29, 2005 Santa Clara, CA -- Fiberxon has raised $20 million in series C funding. The company says the new round of capital infusion will be used for investment in product research and development, capacity expansion, and marketing and sales efforts to address its expanding global customer base and opportunities in the optical access space. The funding round was jointly led by Greylock and Apax Partners.

"This is our very first investment in a China-base US company," comments Yoram Snir, a Greylock partner. "The company is steadily building up its competitive advantage in and from China - the world's largest emerging market of advanced telecom and networking systems."

The company says the funding represents an endorsement of its rapid growth from the investment community. The company says it has maintained profitability over 10 consecutive quarters, as of March 2005, and that last year it took the largest market share in Gigabit Ethernet PON transceivers. The company says its position in the forefront of the market for optical interface modules and subsystems for FTTX deployments has been strengthened by a series of recent technology innovations and new product releases.

"The funding will help fuel the momentum of our strong growth, and further strengthens our leadership position in optical module products," concludes Li Hsu, president and CEO of Fiberxon.