Ottawa’s Corsa Technology Inc., a networking hardware start-up focused on delivering a programmable datapath for software defined networking, has secured $4.2 million in Series A financing. The deal was led by Canadian venture capital firm Celtic House Venture Partners. Among the founders of the company is CEO Bruce Gregory, who was previously president and CEO of venture-backed Extreme Packet Devices Inc. (EPD), acquired for US$415 million by PMC-Sierra in 2000. Celtic House was one of the original seed funders of EPD.
Software Defined Networking start-up Corsa Technology announced that it has secured an initial round of financing of $4.2 million led by Celtic House Venture Partners. Founded by networking industry veterans Bruce Gregory, Yatish Kumar, Carolyn Raab and Steve Yee, Corsa will use the financing to establish itself in Software Defined Networking (SDN) markets. This round of funding is a testament to Corsa’s innovative technology and market vision that has guided the founders from the outset.
Corsa’s solutions will dramatically improve SDN architectures and deliver unprecedented data control and network flexibility. Currently, network designers find themselves constrained by the limitations of networks that do not easily scale for size or speed, are difficult to configure and are tied to specific vendors’ proprietary implementations. With Corsa’s solutions, these constraints are removed and the high-bandwidth, dynamic nature of today’s and tomorrow’s many data applications becomes completely unrestrained.
About Corsa Technology
Corsa Technology is a networking hardware start-up focused on delivering a programmable datapath for Software Defined Networking (SDN). With virtualization of machines and networks providing unprecedented scale in computing, storage and communication, SDN is the right idea at the right time. Corsa Technology’s products solve forwarding problems that traverse the network from data center to desktop and from cloud to device. For more information, please visit http://www.corsatechnology.com.
About Celtic House Venture Partners
Celtic House Venture Partners is an independent Canadian investment firm. Since 1994, Celtic House has been one of Canada’s most active investors in technology and innovation. Capitalizing on the deep domain expertise of its partners, Celtic House has consistently provided superior financial returns to its investors. Celtic House has collaborated with management teams and repeat entrepreneurs to develop technology companies from the inception phase through to exit, generating 25 initial public offerings and successful acquisitions. From offices in Toronto, Montréal and Ottawa, Celtic House manages in excess of $425 million across three funds. Celtic House is currently making new investments out of Celtic House Venture Partners Fund IV, which closed in 2012. For more information, visit www.celtic-house.com.
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