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Cyras Systems
CEO Steve Pearse
Founded 1998
Employees 90
Fremont CA

MARKET Develops high-speed networking switches for voice, video, and data transmission. These
Synchronous Optical Network, or SONet, switches include application-specific integrated circuits also
developed by the company. Its first-generation switches will transmit data at speeds up to 10 Gbps.
Targets regional Bell operating companies, competitive local-exchange carriers, and large long-distance
carriers. Competes with Cerent, Nortel Networks, and Lucent Technologies.

FINANCE Expects to generate revenues in mid-2000. Raised a first round of $15 million in October 1998
from Menlo Ventures, El Dorado Ventures, Draper Fisher Jurvetson, ViVentures, Western Technology
Investments, and angel investor Dado Banatao. Raised a second round of $32 million in August 1999
from New Enterprise Associates, Worldview Capital Investments, and all prior investors except Western
Technology. Total capital raised: $47 million. Plans an initial public offering in first quarter 2001. CEO
was previously executive vice president of Nortel's Internet/Telecom Business Group.