PLUMgrid, Inc. said it raised $10.7 million in Series A funding from Hummer Winblad and US Venture Partners. The company, which is developing network virtualization technology to enable businesses to manage physical, virtual and cloud data centers, had previously raised an initial funding of $2 million. Hummer Winblad partner Lars Leckie will join PLUMgrid’s board.
PRESS RELEASE
PLUMgrid Raises $10.7 Million in Series A Funding from Hummer Winblad and US Venture Partners
Pioneering Network Infrastructure Experts Unveil Differentiated SDN Technology Company
Sunnyvale, Calif. – August 8, 2012 – PLUMgrid, Inc. today announced that it has secured $10.7 million in Series A Funding from Hummer Winblad and US Venture Partners (USVP). PLUMgrid, with nearly two years of development underway, is pioneering an ecosystem-driven network infrastructure built on software-defined networking (SDN) concepts. The company will deliver network virtualization solutions that will enable businesses to manage their physical, virtual and cloud datacenters with greater agility and efficiency.
PLUMgrid previously raised an initial funding of $2 million, and USVP partner Chris Rust joined the company’s Board of Directors. Hummer Winblad partner Lars Leckie now joins Rust on PLUMgrid’s board.
PLUMgrid CEO Awais Nemat co-founded the company in early 2011, and has brought together a dream team comprised of individuals with deep expertise in designing, developing and deploying transformational networking systems and services. Nemat has assembled a group of highly decorated innovators from companies such as Cisco, Marvell, Nicira, Vyatta and VMware. With a strong heritage in network infrastructure, PLUMgrid’s engineers and software visionaries have contributed significantly to the emergence of network virtualization technology in the past five years.
“While there’s a great deal of innovation taking place today in virtualizing the data center, customers are still left without a simple solution to fully virtualize their networks and IO,” said Nemat. “PLUMgrid was started nearly two years ago with a vision to build a new way for customers to finally address new networking application needs and reduce excessive costs.”
PLUMgrid will address evolving customer requirements based on familiar network constructs. The company’s aim is to deliver customer benefit and enable cost-savings through new innovative business and delivery models, in deployment speed and in provisioning, management and configuration.
“The networking industry is experiencing a major shift as infrastructure becomes software-driven,” said Lars Leckie, partner, Hummer Winblad. “We can only see tremendous potential in supporting a new, unified network infrastructure that delivers value to customers by building on networking best practices yet enabling radical agility, simplicity and ease of management that software brings to the table.”
“I look forward to partnering with Lars on PLUMgrid’s board,” said Chris Rust, partner, USVP. “Infrastructure is long due for an overhaul. PLUMgrid’s team has the infrastructure expertise and a strong track record of IP creation to further the network industry’s transformation. Infrastructure is a multibillion market, and our confidence in PLUMgrid’s and infrastructure’s future is bolstered by the team’s rich management experience in growing some of the most successful network businesses in the industry.”
About PLUMgrid
PLUMgrid is a network infrastructure software vendor, selling network virtualization solutions to companies building and managing data centers. The company is headquartered in Sunnyvale, California, and is backed by investors Hummer Winblad and US Venture Partners. PLUMgrid’s management team and Board of Directors includes individuals with broad experience in enterprise/data center infrastructure, security, cloud, and software. For more information: http://www.plumgrid.com
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