Cielo Communications Attracts $37 Million in Venture Funding
Further execution to Cielo s aggressive technology roadmap expected, in anticipation of increasing demands from the optical networking industry
Broomfield, CO - Cielo Communications, a leader in providing gigabit-per-second interconnect solutions for the expanding high-speed networking industry, today announced venture financing totaling $37 million. The completion of this round will allow Cielo to accelerate its product roadmap, increase VCSEL production and finance revenue growth. Key product development milestones have already been met, leading to an accelerated new product introduction schedule in the year 2000. The financing includes equity funding from Mayfield Fund, Menlo Ventures, Herb Alpert, HarbourVest, Kingdon Capital and J. & W. Seligman.
"Cielo s rapid growth and developing strength in the optical networking industry will continue to intensify," said Van Van Auken, General Partner at Mayfield Fund. "The company s technology, infused by this latest round of financing, will catapult and position them as an industry leader in this market." "The optical networking industry is exploding and is expected to show exponential growth this year," said Mike Cowley, President and CEO. "The support of our investors is gratifying and, along with consistent execution to plan, will propel Cielo to the forefront of this market and assure our leadership in the industry." About Cielo Communications Cielo Communications is an industry leader in developing VCSEL technology for use in gigabit-per-second optical interconnect solutions. Cielo Communications has helped to shape the industry s migration to gigabit speeds through its active involvement in standards committees. Cielo continues as a key participant in the development of IEEE 802.3 and ANSI X3T11 standards in addition to being a participating member of the Fibre Channel Industry Association. Cielo s commitment to VCSEL technology enables the broader adoption of affordable, high-speed fiber optic interconnect solutions in the data communications and telecommunications marketplace. Cielo Communications is a privately held company backed by several major investor groups including Mayfield Fund, Menlo Ventures, Herb Alpert, HarbourVest, JAFCO, Triumph, J.&W. Seligman and Kindon Capital.
Cielo Communications is headquartered at:
325 Interlocken Parkway
Building A
Broomfield, CO 80021 USA
Phone: +1.303.464.2255
Fax: +1.303.466.0290
Email: inquiry@cieloinc.com
http://www.cieloinc.com
Contact:
Denise Ridolfo
Cielo Communications
+1.303.464.2255
dridolfo@cieloinc.com
or
Angela Edgerton
The Ardell Group
+1.858.792.2941
angela@ardellgroup.com
Cielo Communications
+1.303.464.2255
dridolfo@cieloinc.com
or
Angela Edgerton
The Ardell Group
+1.858.792.2941
angela@ardellgroup.com
E-mail: dridolfo@cieloinc.com
Web site: http://www.cieloinc.com
