CALIENT Technologies Gets $27 Million

Santa Barbara-based CALIENT Technologies said this morning that it has raised $27M in a round of venture funding, from both new and existing investors. Names of those investors were not announced. According to Calient, it will use the funding to enhance its portfolio of optical circuit switching systems, to extend its IP portfolio, and for working capital. As part of the funding, the company said it has named Jag Setlur as its Chief Financial Officer. Setlur was previously COO and CFO of July Systems, and also served as CFO of Cotendo. He also has served at NetXen Inc. (acquired by Qlogic Inc.), VeriSign, CoWare (acquired by Synopsys), enStage, iPrint Technologies (acquired by American TonerServ Corp.), TCSI and UB Networks. More information »