San Jose, CA (PRWEB) June 06, 2011
Infineta Systems, a provider of Hyper-scale WAN optimization systems, announced that it has closed a Series B funding round in the amount of $ 15 million. This latest funding was led by Silicon Valley-based Rembrandt Venture Partners, with participation from existing investors, Alloy Ventures and North Bridge Venture Partners. The Series B round brings Infinetas total to-date funding to $ 30 million. The company plans to direct the new capital toward building out its sales, marketing, and engineering teams as it addresses the strong market demand for its products.
This funding reflects the continued and intensified interest by enterprise IT professionals to transform data centers from static islands of compute and storage resources to a seamless and unified resource pool. This new paradigm demands a data center interconnect that must deliver unprecedented levels of throughput, reliability, and cost-efficiency requirements that todays WAN infrastructures cannot support. By delivering significantly greater levels of enterprise data center flexibility and availability, Infineta finds itself squarely at the epicenter of this tectonic shift in IT architectures.
Infineta is the first networking company to develop and market commercial WAN optimization systems that accelerate, inter-data center WANs running at up to 10Gbps wire speeds. Powered by the Velocity Dedupe Engine, the Infineta Data Mobility Switch (announced today: Infineta Systems Ships First-ever 10Gbps, Wire speed WAN Optimization System for High Capacity Data Center Interconnects) delivers unrivaled levels of throughput and scalability, serving as a critical building block for enterprises grappling with workflows native to Hyper-scale WANs, such as replication and backup, Big Data transfers, and cross-site virtualization initiatives.
As a result of the funding, In Sik Rhee, general partner at Rembrandt Venture Partners, joins Infinetas board. As both founder of Kiva (one of the earliest application server providers) and co-founder of Opsware (formerly LoudCloud), In Sik has had a direct role in helping strategic line of business and IT organizations tap into new data center architectures and new services delivery frameworks to amass concrete enterprise value.
Our investment in Infineta and its team represents our conviction that there is an enormous shift occurring in the marketplace today driven by the extension of virtualization, Big Data processing, and the mobility of storage pools, stated In Sik Rhee. We believe the superhighway for cloud-based networks presents a significant opportunity for customers and thats where Infineta is strongly positioned with a highly differentiated product and unique technology.
Both emerging and established companies are adopting new technologies at a brisk pace to keep up with data growth, while seeking ways to expedite data collection, analysis, and distribution to generate more revenue, gain competitive advantage, and shorten time to market, said Raj Kanaya, co-founder and CEO of Infineta Systems. We are pleased to receive this investment and validation from Rembrandt Venture Partners, along with our existing investors, who clearly recognize this rapidly growing market opportunity. We look forward to helping our customers manage their Hyper-scale WAN workflows more efficiently and cost-effectively using our groundbreaking product offering.
About Rembrandt Venture Partners
Rembrandt is an early-stage venture capital firm established in 2004 and based in Menlo Park, CA. Rembrandts partners apply their extensive operating experience to help talented entrepreneurs build great companies in emerging market categories. Rembrandt invests in early stage Information Technology companies in the categories of Software, Communications, Internet Infrastructure, Mobility, and Digital Media. For more information, please visit http://www.rembrandtvc.com.
About Alloy Ventures
Based in Palo Alto, California, the partners of Alloy Ventures have been providing venture capital funding to entrepreneurs since 1977. With over $ 1 billion under management, Alloy’s focus is on the next generation of ground-breaking Life Science, Information Technology and Cleantech companies. Our current portfolio includes companies like Barrx, Mavenir, Molecular Imprints, NuGen, Optimedica, Pacific Biosciences, Teradici, ViVotech, and YouSendIt, which are poised to become the next global leaders. Additional information is available on our website at http://www.alloyventures.com.
About North Bridge Venture Partners
North Bridge Venture Partners is an active, bi-coastal, early-stage venture capital firm based in Boston, Massachusetts and San Mateo, California. Established in 1994, North Bridge provides seed-to-growth financing and company-building expertise. North Bridge’s sector focus includes Software, Communications & Infrastructure, Healthcare Technology, Digital Media, and Materials. For more information go to http://www.northbridge.com.
About Infineta Systems
Based in San Jose, California, Infineta Systems is a privately-held provider of Hyper-scale WAN optimization systems. The companys patent-pending Velocity Dedupe Engine delivers unprecedented levels of throughput, scalability and bandwidth capacity to support critical machine-scale workflows across the data center interconnect. Its flagship product, the Infineta Data Mobility Switch, accelerates multi-gigabit BCDR (business continuity/disaster recovery), cross-site virtualization, and Big Data traffic. The company is backed by Rembrandt Venture Partners, Alloy Ventures and North Bridge Venture Partners. For more information, visit http://www.infineta.com.
Infineta, Infineta Systems, Data Mobility Switch, and Velocity Dedupe Engine are trademarks or registered trademarks of Infineta Systems, Inc., in the U.S. All other product and company names herein may be trademarks of their respective owners.
Press Contact:
Carmen Hughes
Ignite Public Relations
W: 650.227.3280 ext. 1
carmen(at)ignitepr(dot)com
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Infineta Systems Attracts $15 Million Series B Funding to Accelerate Traffic Across Hyper-Scale Wide Area Networks
