NetContinuum names Varun Nagaraj CEO

By agencies   |   Thursday, 20 October 2005, 07:00 Hrs
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SANTA CLARA: Enterprise software company NetContinuum Inc. said that it has named Varun Nagaraj as its chief executive.

Nagaraj comes to NetContinuum from Extreme Networks Inc., where he served as vice president of product management. Previously, he worked at Ellacoya Networks Inc. as vice president of solutions and services and at management consultancy Pittiglio Rabin Todd & McGrath as a partner.

In his new position, Nagaraj replaces former CEO Gene Bannam, who has left the company and whose current job title is not clear.

Nagaraj's appointment comes on the heels of a $15 million inside round led by Menlo Ventures and joined by Palomar Ventures, Invus Group, Entrepia Ventures, Adams Street Capital, and Palomar Ventures. That round, a recap, follows $64 million previously raised by the company.

Based in Santa Clara, Calif., NetContinuum has about 70 employees. The company also has an office in Bangalore, India.



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