Clear, the Sole Provider of Optical Network Management Software, Closes $20 Million in Equity Investment

Apr 10, 2001, 01:00 ET from Clear

    LINCOLNSHIRE, Ill., April 10 /PRNewswire/ -- Clear, a global supplier of
 core optical, broadband and digital transport network management software, has
 closed a $20 million round of equity financing led by William Blair Capital
 Partners VII of Chicago.  Lovett Miller & Co. Incorporated, of Tampa and
 Jacksonville, Fla., made a significant co-investment in the round.  The
 financing will be used to strengthen Clear's position as the service assurance
 software leader for optical network management.  According to an RHK February
 2000 report, the service assurance market in North America alone will grow to
 more than $6 billion in 2003.
     Other investors continuing their financial relationship with Clear include
 Alpha Capital Partners, BT Investment Partners, Inc., Landmark Partners, St.
 Paul Venture Capital and Willowridge, Inc.
      "Clear is at the forefront of an industry that will experience rapid
 growth for many years as the expectations for faster, higher bandwidth
 connections continue to exceed network capacity," said Ellen Carnahan,
 Managing Director with William Blair Capital Partners VII, who was recently
 appointed to Clear's board of directors.  "Clear has 12 years of
 telecommunications experience, unique competencies in optical networking, a
 strong management team and one of the most talented product engineering teams
 we've seen.  William Blair Capital Partners is proud to add Clear to its
 portfolio of companies who are defining the technology choices for
 communication service providers."
     "Service providers are constantly searching for cutting edge technologies
 like the Clearview(R) suite.  Lovett Miller understands the growing demand of
 quality network monitoring needs, and that is why we've decided to invest in
 Clear," said Rad Lovett, Founder and Managing Director with Lovett Miller.
 "Clear not only has the service providers in mind when developing their
 software, but they also keep in mind the providers' customers, emphasizing the
 importance of the customer-centric approach."  Lovett has also joined Clear's
 board of directors.
     The investment will support marketing and sales efforts, product
 development innovation, and client service to drive awareness of the company's
 optical software offerings in domestic and international markets.  Since
 announcing its new business focus and unveiling its new identity in January
 2001, Clear has established itself as the industry's sole provider of optical
 network management software.  The Clearview suite is software that gives
 service providers superior monitoring functionality, from fault, to
 performance, to SLA, for the management of advanced optical networks, SONET
 and SDH.  The Clearview suite allows service providers to visualize customer
 circuit configuration and section-by-section status to quickly isolate faults,
 correlate network problems to customers, detect problems proactively across
 the network, and manage multi-vendor network elements seamlessly.
     "In today's chaotic, yet dynamic telecom market, Clear has not only
 acquired equity financing, but the trust of two prominent investors who are
 business partners as well," said Tom Richards, chairman and CEO for Clear.
 "This influx of funding by quality investors displays their excitement and
 confidence, and underscores our solid track record in providing
 customer-centric solutions that continue to evolve with today's increasingly
 complex and intelligent network offerings."
     Clear will continue to maintain and expand strategic sales relationships
 with direct customers, such as Cingular Wireless and AT&T, original equipment
 manufacturers, including CIENA and Digital Lightwave, as well as systems
 integrators, including Fujitsu Network Services, EngineX,
 Steria, Eastecnica, NETvisor, and Cell Telecom.
     "The complexity of today's optical networks, combined with customer demand
 for faster and more reliable telecommunications services, requires new and
 tailored network management tools," said Andy Bosko, vice president of sales
 for Clear.  "Our Clearview Suite provides these tools which are key to
 enabling service providers to drive down costs and increase overall
 productivity."
 
     About Clear
     Clear is a global supplier of optical network management software
 solutions that ensure network reliability, peak performance and improved
 efficiency for communication service providers.  The company's
 customer-centric approach is recognized for its leadership in network circuit
 visualization and customer correlation in fault and performance management.
 Clear maintains an U.S. and international presence, in addition to its Chicago
 area headquarters, with six offices and an expanding customer, original
 equipment manufacturer and system integrator base. Management team members
 include CEO, Tom Richards; CFO, Dennis Baer; Vice President of Client
 Services, Gerald Courier; Vice President of Software Development, Adan Pope;
 and Vice President of Marketing, Alexandra Zaporozec. For more information on
 Clear, visit www.clear.com .
 
     About William Blair Capital Partners
     Since 1982, William Blair Capital Partners ( www.wbcp.net ) has invested
 in well-managed, growth companies across a variety of industries.  William
 Blair Capital Partners specializes in business and communications technology,
 with approximately 25 to 30% of the funds invested in companies in
 mission-critical enterprise software and telecommunications industries.
 William Blair Capital Partners has invested over $595 million in more than 140
 companies.
 
     About Lovett Miller & Co., Incorporated
     Lovett Miller & Co., Incorporated ( www.lovettmiller.com ) is a leading
 private equity investment firm with offices in Tampa, and Jacksonville, Fla.
 With $170 million in committed capital, the firm invests primarily in
 technology, telecommunications and consumer-based businesses. The firm's
 principals are W. Radford Lovett II and W. Scott Miller.
 
 

SOURCE Clear
    LINCOLNSHIRE, Ill., April 10 /PRNewswire/ -- Clear, a global supplier of
 core optical, broadband and digital transport network management software, has
 closed a $20 million round of equity financing led by William Blair Capital
 Partners VII of Chicago.  Lovett Miller & Co. Incorporated, of Tampa and
 Jacksonville, Fla., made a significant co-investment in the round.  The
 financing will be used to strengthen Clear's position as the service assurance
 software leader for optical network management.  According to an RHK February
 2000 report, the service assurance market in North America alone will grow to
 more than $6 billion in 2003.
     Other investors continuing their financial relationship with Clear include
 Alpha Capital Partners, BT Investment Partners, Inc., Landmark Partners, St.
 Paul Venture Capital and Willowridge, Inc.
      "Clear is at the forefront of an industry that will experience rapid
 growth for many years as the expectations for faster, higher bandwidth
 connections continue to exceed network capacity," said Ellen Carnahan,
 Managing Director with William Blair Capital Partners VII, who was recently
 appointed to Clear's board of directors.  "Clear has 12 years of
 telecommunications experience, unique competencies in optical networking, a
 strong management team and one of the most talented product engineering teams
 we've seen.  William Blair Capital Partners is proud to add Clear to its
 portfolio of companies who are defining the technology choices for
 communication service providers."
     "Service providers are constantly searching for cutting edge technologies
 like the Clearview(R) suite.  Lovett Miller understands the growing demand of
 quality network monitoring needs, and that is why we've decided to invest in
 Clear," said Rad Lovett, Founder and Managing Director with Lovett Miller.
 "Clear not only has the service providers in mind when developing their
 software, but they also keep in mind the providers' customers, emphasizing the
 importance of the customer-centric approach."  Lovett has also joined Clear's
 board of directors.
     The investment will support marketing and sales efforts, product
 development innovation, and client service to drive awareness of the company's
 optical software offerings in domestic and international markets.  Since
 announcing its new business focus and unveiling its new identity in January
 2001, Clear has established itself as the industry's sole provider of optical
 network management software.  The Clearview suite is software that gives
 service providers superior monitoring functionality, from fault, to
 performance, to SLA, for the management of advanced optical networks, SONET
 and SDH.  The Clearview suite allows service providers to visualize customer
 circuit configuration and section-by-section status to quickly isolate faults,
 correlate network problems to customers, detect problems proactively across
 the network, and manage multi-vendor network elements seamlessly.
     "In today's chaotic, yet dynamic telecom market, Clear has not only
 acquired equity financing, but the trust of two prominent investors who are
 business partners as well," said Tom Richards, chairman and CEO for Clear.
 "This influx of funding by quality investors displays their excitement and
 confidence, and underscores our solid track record in providing
 customer-centric solutions that continue to evolve with today's increasingly
 complex and intelligent network offerings."
     Clear will continue to maintain and expand strategic sales relationships
 with direct customers, such as Cingular Wireless and AT&T, original equipment
 manufacturers, including CIENA and Digital Lightwave, as well as systems
 integrators, including Fujitsu Network Services, EngineX,
 Steria, Eastecnica, NETvisor, and Cell Telecom.
     "The complexity of today's optical networks, combined with customer demand
 for faster and more reliable telecommunications services, requires new and
 tailored network management tools," said Andy Bosko, vice president of sales
 for Clear.  "Our Clearview Suite provides these tools which are key to
 enabling service providers to drive down costs and increase overall
 productivity."
 
     About Clear
     Clear is a global supplier of optical network management software
 solutions that ensure network reliability, peak performance and improved
 efficiency for communication service providers.  The company's
 customer-centric approach is recognized for its leadership in network circuit
 visualization and customer correlation in fault and performance management.
 Clear maintains an U.S. and international presence, in addition to its Chicago
 area headquarters, with six offices and an expanding customer, original
 equipment manufacturer and system integrator base. Management team members
 include CEO, Tom Richards; CFO, Dennis Baer; Vice President of Client
 Services, Gerald Courier; Vice President of Software Development, Adan Pope;
 and Vice President of Marketing, Alexandra Zaporozec. For more information on
 Clear, visit www.clear.com .
 
     About William Blair Capital Partners
     Since 1982, William Blair Capital Partners ( www.wbcp.net ) has invested
 in well-managed, growth companies across a variety of industries.  William
 Blair Capital Partners specializes in business and communications technology,
 with approximately 25 to 30% of the funds invested in companies in
 mission-critical enterprise software and telecommunications industries.
 William Blair Capital Partners has invested over $595 million in more than 140
 companies.
 
     About Lovett Miller & Co., Incorporated
     Lovett Miller & Co., Incorporated ( www.lovettmiller.com ) is a leading
 private equity investment firm with offices in Tampa, and Jacksonville, Fla.
 With $170 million in committed capital, the firm invests primarily in
 technology, telecommunications and consumer-based businesses. The firm's
 principals are W. Radford Lovett II and W. Scott Miller.
 
 SOURCE  Clear