CEO Mike Hodges
MARKET Develops and manufactures optical networking equipment targeted at network service
providers. Products include the Aurora line of cross-connect, bidirectional optical switches, which were
first shipped in 1998 and have capabilities similar to those of Synchronous Optical Network, or SONet,
technology (the Aurora 512 switch can transfer data at speeds of up to 1.2 terabits per second). In
July signed a $250 million deal with Extant under which Extant will deploy the Aurora switches in its
optical switching network. Customers are long-distance carriers. Competes with Cisco Systems, Ciena,
Sycamore Networks, Juniper Networks, and Lucent Technologies.
FINANCE Not profitable. Raised a first round of $12.5 million in May 1997 from Bellcore, Science
Applications International, Ortel, Oak Investment Partners, Accel Partners, Worldview Technology
Partners, and Blue Rock Capital. Raised a second round of $23.3 million in April 1999 from Cisco,
Telcordia, and prior investors. Total capital raised: $35.8 million. Expected to close a third round by the
end of 1999. Spun off from Bellcore in May 1997. CEO joined the company in February 1999 and had
previously worked as a venture consultant.