Michael Sharma Led Exinda Scores $12 Million in Series B Funding
Date: Monday , April 02, 2012
Massachusetts based WAN optimization solutions provider Exinda raises $12 million in Series B round of funding from Greenspring Associates. The round also saw the participation of existing ventures OpenView Venture Partners. The company had secured $6 million in Series A funding from OpenView Venture Partners in 2007. The current funds will be used to support the company to penetrate the market and achieve its targeted growth. “The new funding further strengthens our financial stability and will enable us to continue executing on our aggressive growth strategy by maintaining the momentum and critical mass we have built up in the market to date,” says Michael Sharma, CEO, Exinda.
Large corporations and multinational companies may be able to afford to buy more equipment and increase bandwidth but SMBs do not have this luxury. Still, this is a very expensive option over the long term and if there is a cost-effective alternative even the large corporations can save valuable resources by implementing a smarter solution. Founded in 2002, Exinda provides solutions that enable network managers to address these and other challenges, helps maximize network resources, control operational costs, and improve the user experience.
“Exinda’s solutions continue to maintain market relevancy, addressing many of the major IT challenges being faced by its customers around cloud, SaaS and real-time applications such as video and the impact of these on traditional network infrastructures,” says Firas Raouf, Venture Partner, OpenView Venture Partners.