BigBand raises $20 million

BigBand Networks is completing a financing round of over $20 million, company sources told TheMarker. According to Dolev and Abramovitch Hi-Tech Information, the round is based on about $35 million pre-money company valuation.

BigBand declined to comment.

The firm develops communications solutions to improve broadband operators ability to provide advanced multimedia services. Its flagship product, broadband multimedia-service router, is the first of its kind that can simultaneously handle video, audio and data. D&A expects revenue in 2002 will come to $6 to $7 million.

BigBand was founded in 1999 and has 100 workers. The company is headquartered in Freemont, California. It has an R&D facility in Tel Aviv, and offices in London.

The company secured $30 million in its last financing round in August 2000. Investors included Redpoint Ventures in its first Israeli investment, Evergreen Canada Israel Investments, Cedar Fund, Pilot House Ventures, and Broadband Ventures.

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