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Atrica Gains $75M in VC
February 13, 2002
By Bob Woods
Atrica Inc., an Optical Ethernet equipment provider, said it has completed a $75 million equity financing round -- the company's third and largest round to date.
In a statement, Atrica said it will use the new capital to further expand its sales and customer support teams, as well as accelerate the marketing of its Optical Ethernet System.
New investor St. Paul Venture Capital led the round, which also included other new investors JK&B Capital, Investor Growth Capital, Saturn Venture Partners (an affiliated fund of Telecom Italia), Gemini Israel Funds L.P. Limited, Lehman Brothers, Part'com, Challenge Fund, Young Associates, Triton Ventures, CDIB and Hotung.
The new round also includes first and second round investors Benchmark Capital, Accel Partners, Ascend Technology Ventures, SBC Communications (via AurumSBC Ventures) and France Telecom (via Innovacom). Seed round investor 3Com also participated in Atrica's latest round.
With the new round of funding, equity investment in Atrica now totals over $100 million.
Atrica's says its Optical Ethernet System is the first system purpose-built to handle the requirements of service providers who are building the next generation of Metro networks. Its products include a carrier class Optical Ethernet Metro core switch designed for Gigabit Ethernet, 10 Gigabit Ethernet and 100 Gigabit Ethernet with full optical switching in a single platform; a Gigabit Ethernet aggregation switch that aggregates flows from customer access devices into the Optical Ethernet Metro core; and a switch that provisions connectivity at the Metro edge and offers a combination of Ethernet interfaces and a comprehensive set of Ethernet Circuit Emulation Services (CES) at T1/E1, DS3, OC3 and OC12 rates.
Founded in February 2000, Atrica has research and development facilities in Israel and business development and sales offices throughout Europe and the Asia/Pacific.