Cloud connectivity provider Connected2Fiber says it has signed a growth capital term loan agreement with Silicon Valley Bank for up to $1.5 million of new capital. The company says it will use the funds to accelerate growth, enhance product offerings, and expand into new markets. This loan agreement comes three months after Connected2Fiber revealed it had closed a $5.3 million round of funding (see "Connected2Fiber closes $5.3 million funding round"). The company attracted $8 million in a Series A round in 2018 (see "Connected2Fiber pulls in $8 million in Series A round").
Connected2Fiber operates The Connected World, a software-as-a-service (SaaS) platform that provides location-based services and applications to network sellers and buyers. The platform is designed to facilitate the matching of buyers and sellers by automating sales and marketing processes for network operators and managed service providers based on location intelligence; the platform contains more than 500 million unique locations actively tracked worldwide, the company asserts. Connected2Fiber says it has more than 2100 active users for the platform.
“Connected2Fiber is more than doubling our revenue year over year, as network operators and managed service providers realize our platform’s ability to drive revenue and automate complex processes,” said Yossi Hazan, CFO of Connected2Fiber. “This loan will allow us to keep pace with the incredible demand for location intelligence, further support the economy through additional hiring and partnerships, and continue investing in our growing product suite. We’re proud to partner with Silicon Valley Bank, which makes our financing easier through its comprehensive, connected platform and stellar customer support.”
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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