November 19, 2001--AcceLight Networks, Inc. (Pittsburgh, PA) announced $60 million in new equity and debt financing to be used primarily for strategic investment in product development, research, and to expand the company's sales and customer efforts globally.

Joining AcceLight's initial investors, Menlo Ventures and Venrock Associates, such firms as CDIB Ventures, Granite Global Ventures, Mitsubishi Corporation, NIF Ventures, Stonewood Capital management, Western Technology Investment, Whitecastle Investment, and Vertex Management also provided funding.

"Photonic economics well fundamentally change the way service providers approach their business by serving as the gateway to an all-optical networked world, allowing them to focus on managed growth and increased profitability," said Dr. Hyong Kim, founder and CEO, AcceLight Networks.

Founded in 1999, AcceLight Networks is a privately held designer and manufacturer of a solution that delivers switched services for the wavelength core.