Dune Networks, a Sunnyvale, Calif.-based maker of networking devices, has raised $12 million in Series B funding. U.S. Venture Partners led the round, and was joined by return backers Alta Berkeley Ventures, Aurum Ventures, Cipio Partners, Jerusalem Venture Partners, Pitango Venture Capital and undisclosed strategic investors.
Dune Networks, a provider of networking devices for Metro Ethernet, Enterprise and Data Center platforms, today announced that it recently closed a $12M series B investment round led by U.S. Venture Partners.
All of Dune's existing investors; Alta Berkeley Ventures, Aurum Ventures, Cipio Partners, Jerusalem Venture Partners, Pitango Venture Capital and its strategic investors participated in the financing round. This additional funding brings the total amount of funding raised to date to $45M. The new funding is to be used to accelerate development of new product lines while expanding sales and support of existing customers.
“Dune welcomes USVP's leading role in our latest round of financing, and is grateful for the continued confidence of our existing investors,” said Dune Networks' CEO, Eyal Dagan. “We strengthen our financial position to accommodate the rapid increase of customer's projects, while accelerating the development of new devices.”
“Dune has established itself as the leading vendor of high performance packet switching solutions,” said Chris Rust, General Partner at USVP, who joined Dune's Board as part of the investment. “With an exceptional management team, strong customer base, broad market acceptance, and clear technology leadership position, Dune is the type of company we like to work with. The entire USVP team looks forward to contributing to Dune's continued success.”
ABOUT DUNE NETWORKS
Dune Networks ( www.dunenetworks.com ) is a supplier of networking devices facilitating the build of