OpVista nets $15 million in funding
MAY 7, 2007 -- This latest internal round of investment was led by ComVentures, with existing investors also participating.
MAY 7, 2007 -- OpVista (search for OpVista) has secured $15 million in additional funding to further support the company's global sales and marketing efforts of the OpVista2000 and its recently released optical networking approach for Carrier Ethernet transport services. This latest internal round of investment was led by ComVentures, with existing investors also participating. The round brings the total company funding to date to $90 million.
"The communications sector is investing aggressively to meet the significant bandwidth demands caused by video. OpVista has taken advantage of a very attractive financing offer to accelerate our growth and strengthen our balance sheet," said Karl May, president and CEO of OpVista. "Based on OpVista's strong 2006 performance, the company remains on track to achieve profitability by the end of this year and return another year of triple-digit growth in 2007."
"Service providers, from cable operators to telcos, have begun to increase their infrastructure investments to alleviate bandwidth constraints. As video content continues to proliferate around the Internet, companies like OpVista with strong products are well positioned to fulfill the bandwidth demand," said Alan Bezoza, senior vice president at Oppenheimer and Co.