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Optically Networked : News: Caspian Networks Closes $120M Investment Round


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Caspian Networks Closes $120M Investment Round
February 27, 2002
By Bob Woods

Caspian Networks Inc., a San Jose, Calif.-based networking firm that says it is "quietly developing new hardware for the heart of the Internet," said it has secured a new $120 million fourth round of financing.

Total investment in the company now exceeds a quarter of a billion dollars ($262 million), making Caspian Networks one of the world's best-funded networking startups, company officials said.

The new round, which company officials said is probably the company's final private round, was co-led by existing investors U.S. Venture Partners, New Enterprise Associates and Merrill Lynch, and included new investors Morgenthaler and Oak Investment Partners.

Caspian's forthcoming product, the Apeiro IP Superswitch, is described by the company as a new "generation of networking equipment designed to allow service providers to efficiently grow their networks, with no `forklift' upgrades and no downtime." The new switch "also offers a number of surprising new capabilities the company has not yet publicly disclosed."

Caspian was incorporated in February 1999 by Dr. Lawrence Roberts. The company has more than 270 employees and offices in San Jose, Calif., Minneapolis and Research Triangle Park, North Carolina.


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