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OpVista lands $15M in new funding

Mon, 05/07/2007 - 1:01pm
Traci Patterson

OpVista has secured $15 million in additional funding in a new round led by ComVentures.

Existing investors Sevin Rosen Funds, iNCUBiC, U.S. Trust, Western Technology Investment (WTI) and DCM also participated in the round, bringing the total funding to $90 million.

The funding will further support the company's global sales and marketing efforts for the OpVista2000, and its Carrier Ethernet Transport (CET) services, the company said.

"The communications sector is investing aggressively to meet the significant bandwidth demands caused by video," said Karl May, president and CEO of OpVista. "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."

Comventures is a venture capital firm that invests in mobile, Internet and enterprise applications and the underlying communication infrastructure.

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