Tibit Communications, a Petaluma, CA based start-up developing next-generation access devices for Passive Optical Networking (PON), announced a Series B investment of $20 million led by Intel Capital.
Founded in 2014, Tibit has introduced a fundamental change to the architecture and economics of PON solutions. Tibit's MicroPlug OLT (Optical Line Terminal) is the world's first pluggable OLT.
The financing will be used to fund Tibit's market expansion as the company prepares to commercially deploy its flagship product, the Tibit MicroPlug OLT, and to accelerate R&D work on additional pluggable PON innovations planned for release later this year.
Tibit's MicroPlug OLT is a complete network access device for 10-Gigabit optical networking that reduces the amount of application-specific hardware needed for network deployments.
Richard Stanfield, CEO and President, Tibit
The reception from our switch vendor partners and global carriers to our 2018 launch of the MicroPlug OLT has been tremendous. The interest in deploying the Tibit solution across a variety of switch environments is a strong validation of the flexibility we've engineered into our solution.
Dave Flanagan, VP of Intel Corp and Senior MD of Intel Capital
At Intel Capital, we look to invest in disruptors -- and delivering broadband access via a standard Ethernet switch is highly disruptive.
