128 Technology, a start-up based in Burlington, Massachusetts, closed $30 million in Series D financing for its "Session Smart" Routing technology.
“The latest round of funding comes at a pivotal time for 128 Technology, when we’re seeing higher than ever demand for our session-based, service-centric networking approach,” said Andy Ory, CEO of 128 Technology. “As virtualization and cloud are shaping our connected future, 128 Technology’s approach offers users a simple, agile solution and helps enterprises manage their networks efficiently and securely.”
“Andy Ory and his rapidly growing 128 Technology team have disrupted the multi-billion-dollar market for traditional networking by delivering proven, next generation network services that give customers freedom from increased risks, unnecessary costs and vendor lock-in,” said Sonja Hoel Perkins, Managing Director, The Perkins Fund. “As companies around the globe continue to invest in solutions that meet the demands for a new model of virtual networking, 128 Technology has created a large, untapped market opportunity.”
Existing investors all participated in the oversubscribed round, including executive management and current employees of 128 Technology, G20 Ventures, The Perkins Fund and individual investors. The company has raised $97.4 million to date.
