nLIGHT Raises $17.5 Million Investment to Accelerate Growth
VANCOUVER, Wash. USA - August 22, 2011 – Leading high-power semiconductor laser provider nLIGHT Corporation (nLIGHT) today announced it has received $17.5 million in fully subscribed Series E financing. This funding round brings the company’s total equity funding to approximately $110 million.
The investment will help fuel nLIGHT’s rapid growth in semiconductor-based lasers that address materials processing, defense, and medical applications. Such products include multi-kilowatt laser systems, high peak-power pulsed fiber lasers, and diode-pumped solid-state laser rangefinders.
“We founded nLIGHT with the vision that dramatic improvements in semiconductor lasers would transform the laser industry and enable disruptive new applications,” said Scott Keeney, CEO. “This funding will allow us to continue to fulfill this vision and support our accelerating growth.”
The funding follows recent performance highlights including: continued growth in profitability, over $60 million in order bookings for the first half of 2011, the addition of over one hundred employees in the last year, and the successful launch of the nPower multi-kilowatt laser platform.
Existing investors participating in the round include Oak Investment Partners, Mohr Davidow Ventures, and Menlo Ventures. All have been actively involved with the company for over ten years and have a strong record of companies achieving initial public offerings.
About nLIGHT Corporation
nLIGHT is a leading supplier of high-power semiconductor-based lasers for material processing, defense, and medical applications. nLIGHT develops and manufactures fiber lasers, diode-pumped solid-state lasers, and direct-diode lasers based on proprietary semiconductor laser diodes and optical fiber technology. For more information see www.nLIGHT.net.