Comcast Ventures and Cisco are part of a group that has plowed $42 million into Compass-EOS, an Israel-based startup that specializes in next-generation high-speed routers.
Other existing investors, including Pitango Venture Capital, Benchmark Capital, Northbridge Venture Partners and Marker LLC, also joined the round. An unnamed private equity fund and RUSANO joined the round as new investors in the round, which extends Compass-EOS's total funding beyond $160 million.
Compass-EOS, a company focused on software-defined networking (SDN) architectures, launched the 10004, its first icPhotonics-based router to use an optical chip-to-chip framework, in March.
Founded in 2006, Compass-EOS’s claim to fame are high-speed routers that require less size and power than traditional gear. Compass-EOS, which competes with traditional routing companies such as Alcatel-Lucent, Juniper Networks and even one of its backers, Cisco, counts NTT Communications and CERNET among its early customers.
"Our initial success with global network service providers has enabled Compass-EOS to raise considerable capital from leading investors around the world. We will continue to innovate while investing in customer support, sales and marketing, all of which are key elements for our future,” said Gadi Bahat, CEO of Compass-EOS, in a statement.
The new funds also came with a decision by Compass-EOS to "re-align its workforce" that included a reduction in staff to about 100, down from the 150 or so staffers it reportedly had about eight months ago. "Compass-EOS is focusing on strategic next-generation products they are developing while focusing on specific geographies and market segments. This kind of a move has implications both on R&D and regional workforce," the company said, in a statement.
