Calient Networks

Business: Calient Networks Inc. has developed an all-photonic switching technology based on micro-electromechanical systems (MEMS). Its systems and software are designed to help service providers scale their networks and manage the ever-increasing demand for bandwidth that exists among consumer and corporate Internet users.

Headquarters: San Jose, Calif.

Founded: March 1999

VC raised to date: $251 million

Capital raised one year ago: $225 million ($195 million equity, $30 million debt)

Investors: Enterprise Partners, TeleSoft Partners, Storm Ventures, Greylock, Juniper Networks Inc., Tellabs, BlueStream Ventures, Marconi, ONI Systems, Invesco, American Express Financial Corp., J. & W. Seligman & Co. and Amerindo Investment Advisors

Plans one year ago: After completing a blockbuster $225 million financing round, Calient intended to continue ramping up its technology and putting the necessary infrastructure in place to meet an anticipated flood of orders for its optical networking capabilities. The company also had planned to try to reach an international customer base by establishing an on-the-ground presence in Europe and Asia. At the time, Calient was angling to target potential clientele such as AT&T Corp., Verizon Communications Inc., BellSouth Corp., Global Crossing Ltd. and TyCom Ltd.

Status today: Calient has had a busy year. In July, the company opened a sales and operations office in London, and in November, formed a distribution partnership with Japanese firm Oki Electric Industry Ltd. As a result, it has already secured orders from two Japanese carriers, Japan Telecom Co. and KDDI Corp. The company expects to announce new additions to its customer roster within the month. With plenty of dry powder left in its war chest from last year’s $225 million Series C infusion, Calient is not currently seeking any additional private equity financing.