Narad Networks Inc. has scored more than $10 million in an additional round of funding that the company will use to support ongoing operations, global expansion and the company’s new switched Ethernet system.
Narad, founded in mid-2000, has raised more than $100 million so far.
Polaris Venture Partners, Argo Global Capital, Sofinnova and Vertical Group participated in the latest round. The company said it expects to execute additional closings during the next 90 days.
“With the investment in cable commercial services skyrocketing, Narad is positioned in the eye of a perfect storm,” said Michael Collette, Narad’s CEO, in a statement. “Our new FTTx for HFC product line provides MSOs with powerful new tools to compete and generate great returns. We have commitments for certification, trial and deployment with multiple major MSOs in the coming months. This additional round of funding will allow us to scale to meet demand.”
Narad has recently introduced the FTTxSWITCH, an FTTx system for HFC plant that’s designed to support GigE over each of the device’s six fiber ports, and 100 Mbps Ethernet over each of its four coaxial ports. The platform can be deployed in FTTN, FTTC and FTTP configurations, as well, the company noted. Narad expects to release a system supporting 10 GigE later this year.