Optical switch developer Calient Technologies, Inc. says it has raised a $27 million round of venture financing from a combination of existing and new investors. The company also named Jag Setlur, a 20-year finance professional, as its chief financial officer (CFO).
Founded in 1999, Calient developed an all-optical switching system based on tiny tilting mirrors etched into silicon, or micro-electromechanical systems (MEMS). The product was originally aimed at telecom operators, but that opportunity waned as the market shifted toward reconfigurable optical add-drop multiplexers (ROADMs).
Using the previous funding round of $19.4 million, announced in October 2011, Calient decided to develop a new product optimised for the enterprise and data centre markets. The S320 was unveiled at OFC/NFOEC the following year. The company claims it is the industry’s highest density optical switch with 320-ports. It has also released application programming interface (API) for OpenFlow for its S320 optical circuit switch, enabling it to be used in software-defined network environments.
Now Calient has returned to investors for more cash to further enhance its portfolio of optical circuit-switching systems, and grow its production capability.
“This round of financing will support the exciting opportunities ahead at Calient as we work to meet rapidly growing demands for optical circuit switching in software-defined data centres and metro networks,” Raza said. “With this funding and our recent growth, I believe now is the time for an experienced CFO like Jag to join the senior management team.”
Setlur joins Calient from July Systems where he served as chief operating officer (COO) and CFO. He previously served as CFO for Cotendo, where he closed two rounds of funding of nearly $30 million and managed the strategic positioning and sale of the company to Akamai.
By Pauline Rigby