BOXBOROUGH, Mass., Aug. 23 -- Coriolis Networks Inc. has recently ended a $20-million second-round venture investment.
So far, the company has brought in a total of $28.5 million in investments. Contributors in the most recent round of funding included existing investors Bessemer Venture Partners, New Enterprise Associates and Columbia Capital. New investments came from the Boston University Community Technology Fund. Coriolis will use the money to keep on producing and developing metro-optical equipment for fiber-based network service providers.
This second round of venture funding fortifies Coriolis' business strategy and equipment development to help us move into the next phase of our corporate development, said Robert L. Castle, president and CEO of Coriolis. Coriolis is committed to providing facilities-based carriers with metro optical solutions that increase revenues and reduce the overall cost of ownership and management.