January 30, 2006 Atlanta, GA -- Movaz Networks, a provider of optical networking platforms, recently announced that it has closed $20 million in equity financing, and has secured an additional line of credit for $12 million. The company says the combined $32 million financing will enable it to support its expanding operations, while also providing a foundation for continued revenue and customer growth.
Movaz says it saw its 2005 revenue increase by a record 66% over the previous year. The investor syndicate that led the financing included Anschutz Investment, Comcast Interactive Capital, Menlo Ventures, Oak Investment Partners, Meritech Capital Partners, and Worldview Technology Partners.
"Movaz has continued to introduce innovations in optical networking, such as its latest multi-degree ROADM product, to take advantage of market opportunities presented by network convergence and the triple play," comments Louis Toth, managing director at Comcast Interactive Capital. "The company has consistently demonstrated its ability to enter new market segments and gain market share."
Movaz recently announced the in-service deployment of its multi-degree RAY-ROADM platform, which the company says provides dynamic reconfigurability across rings, at hub locations, and through spur junctions. By adding its single and multi-degree ROADM products, the company says its customers can instantaneously activate a broad range of IP applications, including IPTV and VoIP services, across a consolidated all-optical infrastructure that can span over 2,000 km.