OpVista raises $15M more for optical data transport
OpVista, a Milpitas, Calif. company that lets cable providers boost the transmission of data over optical networks, has raised $15 million more in financing.
This is a bubble-era company. It launched in 2000, and suffered amid the downturn in the telecommunications market in late 2000. It has since been restructured, and investors keep pumping in money.
Here is the company’s announcement.
The latest round comes from existing investor ComVentures, a firm that has struggled lately after making mostly communications investments. OpVista’s total funding to date is $90 million.
In a statement, Karl May, President and Chief Executive Officer of OpVista, said: “Based on OpVista’s strong 2006 performance, the company remains on track to achieve profitability by the end of this year, and return another year of triple digit growth in 2007.”
The company sees hope in helping deliver high-bandwidth Ethernet services, such as high definition video.
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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
