Zaffire Closes 3rd Round of Funding, Raising $85 Million
COMTEX B:
SAN JOSE, Calif., Jun 7, 2000 /PRNewswire via COMTEX/ -- Optical networking
leader Zaffire(TM) recently closed its third round of financing, raising
approximately $85 million from a cadre of financial and strategic investors.
Zaffire, which is focused on the metro/regional space within the optical
networking business, said it will use the new funds to transition to a full
operating company, ramp up its manufacturing process, build out its sales and
customer support channels, and expand its international sales and distribution
operations.
Integral Capital Partners was lead investor on Zaffire's third round of funding,
followed by OppenheimerFunds, Inc., J&W Seligman & Company, and Carlyle Internet
Partners Europe LP. Other key investors this round were Azure Capital Partners,
JT Venture Partners, Kinetic Ventures, Octane Capital Management, Pilgrim Baxter
Hyper Partners, Bank of America Securities, and Morgan Stanley Dean Witter. In
addition, Zaffire received further support from previous investors Kleiner
Perkins Caufield & Byers, Juniper Networks, and MRV Communications.
Zaffire CFO Lori Holland said: "We are delighted with this premier group of
telecom savvy investors. They are expected to be very active with the company,
utilizing their industry knowledge and business partnerships to advance Zaffire
faster than might otherwise be possible."
Roger McNamee, general partner of Integral Capital Partners, said "Without the
breakthrough optical technologies that Zaffire brings to the metro/regional
space, telecom carriers won't be able to serve the coming worldwide explosion in
demand for high-speed voice, data and video communications. Zaffire is
unleashing the power of the optical Internet, and that's a business plan in
which Integral Capital Partners wants to participate."
Paul Weinstein, managing partner at Azure Capital, said Zaffire's
"differentiated product strategy was key to Azure's investment. They're making
the first compelling business case for the metro/regional space in optical
networking," he said. "Ultimately, Zaffire has the breadth of technology that
will be attractive to multiple service providers. Zaffire's product and
technological acumen are perfectly aligned with the emerging market opportunity
many of these providers are now experiencing."
About Zaffire
Silicon Valley-based Zaffire, Inc. is a high-technology company focused on
developing a next-generation, optical services networking system for service
providers worldwide. Zaffire's breakthrough optical technologies have been well
received by new-generation carriers, CLECs, RBOCs, and IXCs. Designed
specifically for deployment in metro and regional-area networks, the Zaffire
Advanced Optical Services Network Architecture gives service providers a new
level of transport control over existing and emerging data, circuit, and lambda
services. The solution also significantly reduces the total cost of ownership
and provides service providers with a high level of flexibility to price and
deliver differentiated service offerings. For more information, see
zaffire.com
Zaffire is a trademark of Zaffire, Inc. Copyright (C) 2000, Zaffire, Inc. All
Rights Reserved.
SOURCE Zaffire, Inc.
CONTACT: Patty Parsell, Zaffire Director of Outbound Marketing,
408-894-7369 or pparsell@zaffire.com
URL: zaffire.com
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(C) 2000 PR Newswire. All rights reserved.
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