Chorum Technologies Raises $54.7 Million From Venture Capital Funding.Business Editors & High Tech Writers RICHARDSON, Texas--(BUSINESS WIRE)--Oct. 24, 2001 Chorum Technologies, a leading provider of all-optical processors and subsystems for low-cost optical networks, announced that it has raised $54.7 million of private equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. from new and existing investors, including CenterPoint Ventures, InterWest Partners, Sevin Rosen Funds Sevin Rosen Funds (SRF) is a venture capital firm that was established in 1981 by L.J. Sevin and Ben Rosen. SRF was involved in the financing of ArQule, CIENA, Citrix, Cypress Semiconductor, Electronic Arts, Lotus Development Corporation, Silicon Graphics, and Vitesse. , Scudder-Kemper Investments, Star Ventures, Wheatley Partners, Austin Ventures, Rho Management Trust, Crown Advisors International, Azure azure /az·ure/ (azh´er) one of three metachromatic basic dyes (A, B, and C). az·ure n. Any of various dyes used in biological stains, especially for blood and nuclear staining. Capital Partners, Sycamore sycamore: see plane tree. sycamore Any of several distinct trees called by the same name though in different genera and families. In the U.S. the term refers to the American plane tree or buttonwood (Platanus occidentalis), a hardy street tree. Ventures, Bowman Capital Management and J. & W. Seligman Co. The round was completed in September 2001. The new capital, combined with capital on hand, will fund more than two years of growth for the company. The funds will be used to build upon the company's existing family of differentiated products, continue to expand the company's substantial base of leading customers and ramp new products into production. Since the start of this year, Chorum Technologies has quadrupled its base of commercial customers and has expanded its product offerings by threefold and now has more than 20 products that are commercially available for customers. "We are very appreciative of the confidence and commitment of both our new and existing investors, who recognize that Chorum Technologies has differentiated products, a strong base of tier-one customers and a talented team to execute its business plan," said Scott Grout Grout A binding or structural agent used in construction and engineering applications. Grout is typically a mixture of hydraulic cement and water, with or without fine aggregate; however, chemical grouts are also produced. , 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 Chorum Technologies. "Today, cash is a critical differentiating resource for companies and we are pleased to have the capital on hand to fully fund the growth, development, delivery and sales of our products." About Chorum Technologies Chorum Technologies is a leading provider of all-optical processors and subsystems in the fast-growing fiber-optics market. Chorum Technologies' PolarWave(TM) family of optical filtering, switching, routing and processing technologies enables networks that are faster, more flexible and more cost effective. Chorum Technologies was founded in 1996 and is based in the Telecom Corridor(R) of Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. . For more information, visit www.chorumtech.com. Chorum and Chorum Technologies are registered trademarks and PolarWave, PolarCast, PolarTune, PolarShift and PolarModule are trademarks of Chorum Technologies. Telecom Corridor(R) is a registered trademark of the Richardson Chamber of Commerce. |
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