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Indian founded Infineta Systems raises $15 Million
By siliconindia
Bangalore: Infineta Systems, a privately-held network infrastructure startup, has raised a $15 million Series A round of venture capital funding. This financing round is led by the Alloy Ventures and North Bridge Venture Partners.
According to the company, the funding will be used to initiate a new category of products that will help Global 2000 enterprises address the explosion in inter-data center traffic resulting from mission-critical storage replication, backup and emerging "private cloud" applications. The company also claims that the products will be based on the Infineta Systems' patent-pending Velocity Dedupe Engine, the hardware-based network de-duplication technology. "With the closing of this round of funding, Infineta has achieved a major milestone in our journey towards addressing the inter-data center traffic explosion," said Raj Kanaya, Co-founder and CEO, Infineta Systems. "Alloy Ventures and North Bridge Venture Partners are ideal partners for us as we develop a solution to address one of the hottest growth areas in enterprise networking."
Founded in 2008 by K.V.S. Ramarao and Kanaya, the San Jose-based Infineta Systems develops and markets a line of network optimization products. Infineta's technology provides unprecedented levels of throughput, scalability and bandwidth capacity for large data center-to-data center interconnects, accelerating large volume, low latency traffic by 5x or more while reducing bandwidth consumption by up to 10x. Today, replication traffic is the primary driver of inter-data center traffic growth. Replication traffic alone will triple in the next three years for the typical Global 2000 organization with some of the largest Fortune 500 companies seeing annual growth exceeding 100 percent (source: Forrester Consulting and Infineta).
"The requirement for massive scalability and ultra-high performance connectivity to address the traffic deluge occurring between data centers is costing enterprises millions annually," said Paul A. Santinelli, General Partner, North Bridge Venture Partners. "Infineta Systems has developed game-changing technology to address this issue."
According to the company, Global 2000 enterprises turn to Infineta's solutions to accelerate critical business continuity and disaster recovery workflows such as replication and remote backup at rates of up to 10Gbps. "Addressing this challenge by constantly adding more bandwidth is a very expensive and unsustainable proposition for businesses. Infineta's solution immediately addresses a customer's severe pain point today, while providing them with a path towards significantly reshaping their enterprise data center architecture in the future," said Ammar H. Hanafi, General Partner, Alloy Ventures.
