Cable giant Cox has been testing Vyyo's UltraBand overlay gear and has plans to start installing the equipment in its network, according to people familiar with the pact. Cox likely would use the systems to provide fast connections to small- and medium-sized businesses, an area that cable companies have targeted for growth.

Representatives from Cox didn't provide an immediate comment. Vyyo declined to comment.

The Cox contract comes as Vyyo secured a financing deal with stakeholder Goldman Sachs (GS - commentary - Cramer's Take). Vyyo said early Wednesday that the bank has committed to $35 million in funding.

The Norcross, Ga., cable-networking shop has made a splash among tech investors recently. Shares have surged 80% in the past month.

Vyyo announced Monday that it had hired two hard chargers from the cable tech field to run the company. Wayne Davis, previously head engineer at Charter (CHTR - commentary - Cramer's Take) and Comcast (CMCSA - commentary - Cramer's Take), took the CEO spot, and industry veteran Jim Chiddix was named vice chairman.

Vyyo's win with Cox is the second big customer addition this month. Two weeks ago, StarHub, a Singapore cable operator, signed a contract to use Vyyo's UltraBand in a network upgrade. Fans believe that winning Cox will help Vyyo gain customers at other U.S. cable shops.

"There are two other [cable companies] testing Vyyo's solution that could also become customers as they grow their business services products," Janco Partners analyst Cameron Cooke wrote in a research note last week.