Atoga Systems Closes $ 14.5 Million in First Round Financing; NEA and Sequoia Capital Fund WDM Metro Access Start-Up.Business Editors/High Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--May 16, 2000 Atoga Systems, a leading developer of full-service WDM (1) (Wavelength Division Multiplexing) A technology that uses multiple lasers and transmits several wavelengths of light (lambdas) simultaneously over a single optical fiber. access equipment, is pleased to announce the closing of its first round financing. NEA NEA abbr. 1. National Education Association 2. National Endowment for the Arts NEA (US) n abbr (= National Education Association) → Verband für das Erziehungswesen and Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. lead the first round investment for a total of $14.5 Million. Atoga Systems was founded in December 1999 and is led by a team of entrepreneurs with proven track records founding and leading successful networking startups such as Berkeley Networks and YAGO. "The changing business models in the service provider landscape offer us a unique opportunity to provide full-service solutions and redefine service delivery in the metro," said Cuneyt Ozveren, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atoga Systems. "Our potential customer base has enthusiastically validated our product plans. We are now singularly focused on delivering to that plan." Rob Coneybeer, Partner at NEA, said, "We are very pleased to work with the talented team at Atoga. They have an especially exciting approach to solving bandwidth bottlenecks in the metro." New Enterprise Associates (NEA) is one of the industry's premier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] investing in early-stage companies and working with management to nurture and build companies of real and lasting value. Mike Goguen, General Partner at Sequoia Capital, said, "The team at Atoga has a compelling solution to enable true service provisioning in the metro network. We are very excited about working with Cuneyt and his team. We like our investments to be well positioned in new and very rapidly growing markets where the customers have great enthusiasm for the company's products." Sequoia Capital provides start-up venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends and more importantly, helps turn ideas into companies. About Atoga Atoga Systems designs, develops and manufactures full-service WDM equipment for the metro network. Atoga's solutions for the metro network allow Service Providers to dramatically increase the aggregate performance of their network infrastructure and radically reduce the total cost of operation through intelligent and simplified provisioning services. Atoga Systems is located in Santa Clara, CA. |
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