Petaluma, Calif.-based Turin Networks Inc., which provides intelligent multiservice optical transport platforms, said it has received $50 million in its third round of financing. The company also said it expects to close on an additional $8 million in the coming weeks.
The principal new investor in this round was venture capital firm Doll Capital Management (DCM). Major new investors also include RWI Group, Tako Ventures and individual venture capital investor Don Lucas. Previous Turin investors -- Sequoia Capital, Van Wagoner Capital Management, industry veterans Don Green, BJ Cassin and others -- also participated in the round, officials said,
The sizeable new round of financing "demonstrates the high degree of confidence that investors and service providers have in the company's value proposition as well as its ability to establish a leadership position in the optical edge market," officials said in a statement.
The investment gives Turin the funding needed to continue executing on its sales and marketing plan, and to support further development of the company's recently launched Traverse product family.
Turin Networks delivers intelligent multiservice optical transport platforms designed to "revolutionize" the economics of deploying broadband services. The company's Traverse product family unifies intelligent optical transport with multiservice aggregation and switching in a single carrier class system-reducing network complexity and enabling service providers to deliver a wide array of high-bandwidth transport services more rapidly, efficiently and cost-effectively.
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