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June 12, 2013

Start-Up Plexxi Raises $20 Million

Filed under: Venture Capital News — admin @ 11:44 am

Stealthy start-up Plexxi landed $20 million of series C funding from its existing investors, North Bridge Partners and Matrix Partners, from Boston area and Lightspeed Venture Partners, the Silicon Valley investor.

The company also raised a few years ago a series A and B funding amounted at $28.38 million from these investors. Along with this C series of funding, the company totals a little more than $48 million.

With this amount, Plexxi wants to add another 15 employees to the existing 30 both for the Nashuah, NH office and for the Cambridge office. According to the website, the company will try to answer the issues faced until the present moment in building a great enterprise and cloud datacenter networks with the 20th-century networking tech.

The company is led by Ephraim Dobbins (previously at Acme Packet) and Dave Husak (previously at Reva Systems and 3Com). This may offer them some insight and experience on what the future holds.

Husak stated that he is not ready yet to disclose any details of the product development, that are intended to address the challenges of building the state-of-the-art enterprise and cloud data center networks and the need for a better solution.

It looks like the company they will not disappoint and we expect that Plexxi’s beta testing to be at its heights soon. Still the software will not be available on the market until the end of this year.

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