June 5, 2006 San Francisco, CA -- RBN Inc. has closed its most recent round of funding and has completed a recapitalization of the company. The financing round was co-led by new investor Jolimont Ventures and existing investor Allen and Buckeridge (both Australian technology funds). The funding comes on the heels of a good fiscal year during which RBN doubled its revenue, driven by carrier demand in North America and Europe.
The funds will be used to enhance RBN's GigaEdge 2300 Programmable Optical Transport Platform with additional mini-MSPP feature sets. RBN plans to increase manufacturing volumes to meet current and future product demand. RBN has developed two optical transport products (2320 and 2330) based on the GigaEdge 2300 platform.
"RBN has received strong European interest and demand for its GigaEdge 2300 platform, signifying a clear market need for our solution," said CEO Graham Mitchell. "With the commercial launch of the platform in North America, our new funding will be instrumental in allowing us to meet current and future customer's needs."
In addition to the GigaEdge 2300, RBN's products include the RBNi GigaEdge 8200 CWDM OEO ROADM and the RBNi GigaEdge 6000 series of passive CWDM filter modules.