Telseon, which develops metropolitan optical networks, said it has received $20 million in new venture-capital funding.
A VentureWire report quoted company Chief Executive Officer (CEO) John Kane as saying the round was the company's fourth. A story in Wednesday's Denver Post said that Telseon has raised $261.5 million since its start in 1999. And in a press release issued yesterday, the company said it anticipates breaking into the black in 2003's first quarter.
Telseon also said in 2002 it will focus on channel development, network expansion and enhancing its Metro Wavelength Service. It finished deploying its 20-city metro network and launching its services nationwide in December 2000. From 2000's fourth quarter to the fourth quarter of 2001, the number of installed customers for its fast, scalable Gigabit Ethernet service grew 400 percent. The average bandwidth consumed by these customers increased from 45 Mbps to 93 Mbps during the same time period.
The increase is attributed to customers transitioning more traffic to the Telseon network and the "simplicity of scaling bandwidth with the Telseon IP Provisioning System," Telseon said in a statement.
This year Telseon said it will will focus on increasing its sales through its channel partners and expanding its service reach within key markets. The company recently launched its national channel program with six member partners and 39 new joint customers. In 2001, Telseon increased its network points of presence from 60 to 120 locations to include data centers, hosting facilities, carrier hotels and other high-bandwidth network aggregation points.
This year, Telseon said it will continue to expand its network to include multiple tenant buildings and large enterprises to generate new revenue opportunities and broaden the market reach of its service provider customers.
Telseon also said it added protocol independent 2.5 and 10 Gig intra-metro connectivity to its Metro Wavelength Service offering. Launched in April 2001, more than 80 wavelengths were sold to international and domestic carriers, large ISPs and network access providers. With wavelengths rapidly becoming an alternative to structured high-end SONET-based private line and dark fiber, the wavelength service is expected to generate an increasing percentage of total revenue for the company in 2002.
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