FONS Raises $27.5 Million in Second Round Financing

NORTHBORO, Mass., Feb 15 -- Fiber Optic Network Solutions (FONS) Corp., a manufacturer of passive optical components and interconnect solutions, announced that it has raised $27.5 million in a second round of equity financing. With lead funding from Oak Investment Partners and increased investments from first round participants Morgenthaler Ventures and Intel Capital, FONS will use the capital to further its R&D, manufacturing capabilities and global presence. FONS more than tripled its US manufacturing capacity with its last expansion, the construction of a new corporate headquarters in Northboro, Mass., in September 2000.
"A growing number of Oak portfolio companies are building networks or network elements that use optical fiber," said Ed Glassmeyer, general partner at Oak Investments. "For example, Cogent Communications for terminating signals at customer sites for their national optical broadband network, Tellium for optical switching in the network core, and Cereva for next generation network storage systems. All are customers or potential customers of Fiber Optic Network Solutions."