Calix Raises $100M to Meet Broadband Demand

imagesCalix, a company that provides equipment to help carriers, cable companies or rural broadband providers deploy and manage fiber networks, has raised $100 million in a combination of debt and equity financing. The funding will help the company meet demand for its products, which has been spurred by the federal government spending $7.2 billion to deploy broadband, the need for wireless backhaul, and the company’s plans for expansion into South America, Canada and the Caribbean. For Calix, predominantly a supplier to rural America — the broadband business is booming.

The 10-year-old company raised $50 million in equity from existing investors. Silicon Valley Bank provided $50 million in debt. In addition to the financing, Calix added three new directors to its board: Michael Marks of Riverwood Capital, Adam Grosser of Foundation Capital, and Robert Finzi of Sprout Group. Calix declined to disclose the total amount it has raised throughout its history, although by 2002 it had pulled in more than $200 million, nor its exact revenue. Carl Russo, CEO of Calix, said the company had sales of more than $250 million last year.