Networking start-up grabs bag of seed money
Quantum Bridge Communications receives $102 million in third-round funding from several venture capital and investment banking firms.
Quantum Bridge, which makes networking equipment for office parks and businesses, has raised more than $124 million since 1998.
The latest investment provides evidence that seed money is not waning for networking companies, a niche that has exploded in popularity with investors in recent years. Huge demand for corporate and Internet data traffic has spawned dozens of communications service providers and the equipment makers that supply them.
Texas Pacific Group led the round of funding, which included investments from BCI Partners, Morgan Stanley Dean Witter Private Equity, Comcast Interactive Capital, KMC Investment Partners, Pequot Capital Management, JP Morgan Capital, First Union Capital Partners, Dain Rauscher Wessels and an affiliate of FleetBoston Financial.
Quantum Bridge's Optical Access System equipment allows high-speed Internet access for business customers using fiber-optic connections.
Its gear is expected to be commercially available in June. Cable operator Comcast has been among the communications providers testing the company's equipment since January.