NextIO Inc., an Austin, Texas-based provider of I/O virtualization solutions, has raised $18.8 million in Series C funding. Return backers Adams Capital Management and Crescendo Ventures co-led the round, and were joined by return backers VentureTech Alliance, JK&B Capital and Dell. Two new “strategic investors” also participated. NextIO has now raised nearly $40 million in total VC funding since 2003.
NextIO, Inc., the leader in I/O virtualization solutions, today announced it closed an $18.8 million Series C funding round. Adams Capital Management and Crescendo Ventures led the round with participation from other inside investors as well as two new strategic investors. The funding will be used by NextIO to further expand its development team and sales channels in preparation for the upcoming release of several virtualization system products in 2008. To date, NextIO has raised nearly $40 million in funding.
“The demand for technologies that drive server virtualization will continue to grow in the coming years,” said Wayne Cantwell of Crescendo Ventures. “NextIO is a pioneer in developing new, more powerful virtualized I/O solutions designed to support all I/O technologies and greatly simplify server management.”
Founded in January 2003, NextIO is the recognized leader in virtualized I/O system solutions for OEMs and was the first private company invited to participate in the PCI-SIG’s I/O Virtualization Working Group. NextIO has developed a number of system-level solutions for enterprise-class servers. They include PCI Express Virtualization systems for blade and rack mount servers. These system solutions speed development and deployment of shared I/O in enterprise servers.
“Virtualization of hardware in a server environment continues to lower costs, simplify deployment and allow management features previously not available,” said K.C. Murphy, CEO of NextIO. “The NextIO technology and product offerings complement the software virtualization developments seen throughout the industry. Our production-worthy silicon, complete management software, as well as stand-alone systems make NextIO the first company to bring this level of virtualization to market.”
NextIO, Inc. is a developer of I/O virtualization solutions for enterprise-class computer servers. Led by a team of industry veterans, NextIO is based in Austin, Texas and is a privately held company funded by Adams Capital Management, Crescendo Ventures, VentureTech Alliance (TSMC), JK&B Capital and Dell.