Cielo Communications Attracts $37 Million in Venture Funding.Business Editors BROOMFIELD, Colo.--(BUSINESS WIRE)--Jan. 17, 2000 Further Execution to Cielo's Aggressive Technology Roadmap The context of product management The existence of product managers in the product software industry indicates that software is becoming more and more commercialized as a standard product. Expected, in Anticipation of Increasing Demands From the Optical Networking Communications between computers, telephones and other electronic devices using light. An optical network is far more reliable and has far greater potential transmission capacity than networking in the electrical domain. See optical fiber. Industry Cielo Communications, a leader in providing gigabit-per-second interconnect solutions for the expanding high-speed networking industry, today announced venture financing totaling $37 million. The completion of this round will allow Cielo to accelerate its product roadmap, increase VCSEL (Vertical Cavity Surface Emitting Laser) Pronounced "vixel." A type of laser diode that emits light from its surface rather than its edge. A VCSEL's circular beam is easy to couple with a fiber, and due to its surface-emission architecture, can be tested production and finance revenue growth. Key product development milestones have already been met, leading to an accelerated new product introduction schedule in the year 2000. The financing includes 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 Mayfield Fund, Menlo Ventures, Herb Alpert, HarbourVest, Kingdon Capital and J. & W. Seligman. "Cielo's rapid growth and developing strength in the optical networking industry will continue to intensify," said Van Van Auken, general partner at Mayfield Fund. "The company's technology, infused by this latest round of financing, will catapult and position them as an industry leader in this market." "The optical networking industry is exploding and is expected to show exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. this year," said Mike Cowley, president and chief executive officer. "The support of our investors is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. and, along with consistent execution to plan, will propel Cielo to the forefront of this market and assure our leadership in the industry." Cielo Communications is an industry leader in developing VCSEL technology for use in gigabit-per-second optical interconnect solutions. Cielo Communications has helped to shape the industry's migration to gigabit speeds through its active involvement in standards committees. Cielo continues as a key participant in the development of IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.3 and ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. X3T11 standards in addition to being a participating member of the Fibre Channel Industry Association. Cielo's commitment to VCSEL technology enables the broader adoption of affordable, high-speed fiber optic interconnect solutions in the data communications and telecommunications marketplace. Cielo Communications is headquartered at 325 Interlocken Parkway, Building A, Broomfield, CO 80021. Additional company and product information is available on the World Wide Web at www.cieloinc.com. Cielo(TM) and the Cielo logo are trademarks of Cielo Communications. All other trademarks and registered trademarks are the property of their respective companies. All rights reserved. |
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