Press Releases
For Immediate Release - Santa Clara, California, June 7, 2001
Aurora Networks Receives $20 Million in Second Round Funding
Santa Clara, CA. — Aurora Networks, a leading developer of
optical communications technology for broadband networks, announced today that
it has successfully completed its second round of financing, receiving $20
million from the combination of Battery Ventures, the company's initial backer,
ComVentures and Castile Ventures. ComVentures, a leading investment firm that
focuses on communications and Internet infrastructure, technologies and services,
led the round.
"We are very pleased at the support that we've received from
our venture capital partners," said Guy Sucharczuk, the recently appointed
CEO and President. "We have been actively developing innovative fiber systems
for broadband operators, as the industry prepares to offer new, advanced products
and services. Aurora Networks is a key resource in building the networks that will
carry these services with greater efficiency, technical capability, and reliability.
In an environment where technology investment is particularly cautious and
noteworthy, Aurora Networks is positioned to be an important part of the broadband
industry's future."
With the company's second round complete, the total capital raised by
Aurora Networks to date is $30 million. Both ComVentures and Castile Ventures are
new investors in the company.
"ComVentures is an active investor in the broadband network arena,
and the solid business model and product excellence offered by Aurora Networks
stands out as an ideal opportunity," said Jim McLean, Partner of ComVentures.
"Guy and his team are working with a number of broadband network providers
to design better, more capable networks, which are essential to meet the
ever-increasing needs and requirements of the businesses they serve."
Aurora's products will be on display at the National Cable and
Telecommunications Association (NCTA) convention in Chicago, June 10th through 13th
(booth #4722).
About Aurora Networks
Founded in November 1999, Aurora Networks designs, develops, and markets advanced
optical communications systems for traditional Hybrid Fiber Coax (HFC) networks
and advanced, fiber-deep broadband networks. The company's advanced technology
delivers significant increases in bandwidth and functionality while providing
substantial cost savings when compared to traditional HFC network technology.
Aurora Networks is privately held, with headquarters at 4151 Burton Drive,
Santa Clara, California 95054. Phone 408.562.1770. Additional information about
Aurora Networks can be found on its Web site at www.aurora.com.
Contact:
John Dahlquist
Vice President of Marketing
Aurora Networks
408.562.1770 x133
jdahlquist@aurora.com
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