• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

OpVista Completes Series-C Funding Round of $10 Million for its Optical Transport System

Posted on: Monday, 13 October 2003, 06:00 CDT

IRVINE, Calif.--(BUSINESS WIRE)--Oct. 13, 2003--OpVista, Inc., a developer of optical transport systems for the convergence of video, voice, and data services in the cable industry, today announced the completion of its oversubscribed series-C funding round totaling $10 million. This round was led by existing investor, Excelsior Venture Partners III, LLC, a private equity fund managed by U.S. Trust. In a sign of confidence for OpVista's strong market potential, investors from the previous round also participated in this current round. In addition to Excelsior Venture Partners III, LLC, these investors include Incubic, Sevin Rosen Funds, WK Technologies, and United Venture Capital Partners.

This latest round of funding will be used to increase marketing and sales support, operations, and customer service surrounding OpVista's MetroVista(TM) optical transport system. The MetroVista system was recently validated in commercial operation and is now in volume production. To bolster market presence, OpVista recently hired two industry veterans as vice presidents of sales for the US West and East regions. Judy Donovan is now Western Regional Vice President of Sales and David DeMio joined as Eastern Regional Vice President of Sales.

OpVista's flagship MetroVista optical transport system is ideal for cable operators seeking to deploy cost-effective, interoperable, high-capacity transport solutions for converged video, voice and data services. The product family is fully compliant with International Telecommunications Union (ITU) standards and its carrier-class management system provides capacity addition and remote re-configurability without service disruption. MetroVista is scalable from one to 800 Gigabits per second on a single fiber for up to 1000km without dispersion compensation, signal regeneration or fiber plant re-engineering.

"We are pleased to see this level of investor confidence in the company," said Gary Trimm, President and CEO of OpVista. "Our team has delivered an innovative product to market ahead of schedule and achieved successful deployment in the cable industry. The added resources will allow us to better serve our customers, build inventory to meet demand, and launch new R&D initiatives."

About OpVista, Inc.

OpVista, Inc., founded in 2000, develops scalable optical transport solutions for the communications industry for the deployment of "anything on demand" services including, video, voice, and data services. Its flagship MetroVista(TM) system is ideal for service providers seeking to deploy cost-effective, interoperable, high capacity transport solutions for Video-on-Demand, ATM/SONET replacement, business services, and for integrating video, voice, and data onto a single fiber. OpVista's investors include leading investment firms Excelsior Venture Partners, Incubic, Sevin Rosen Funds, United Venture Capital Partners and WK Technologies. The company maintains its headquarters in Irvine, Calif. More information about OpVista can be found at http://www.opvista.com.

More News in this Category