Network virtualization startup, Midokura has secured $20.4 million in Series B funding, bringing its total investment to over $44 million to date.
The new round of funding will be used to address market demand to provide 24/7 enterprise-grade support for its Midokura Enterprise MidoNet (MEM) solution. Specifically, funds will be used to build upon and accelerate product development, expand the company’s executive and development teams and secure new partnerships with industry leaders.
Midokura said that MEM solution offers an intelligent, software-based network abstraction layer between the hosts and the physical network, by decoupling the IaaS cloud from the network hardware. In turn, operators can build isolated networks in software to overlay the existing hardware-based network infrastructure. Midokura claims that the open source version of its core MidoNet technology is quickly gaining popularity among organizations of all sizes in more 120 countries.
Dan Dumitriu, co-founder and CEO of Midokura
Midokura aims to fundamentally transform and automate networking for any public, private or hybrid cloud and container deployment. We are delighted to have the support of our investors in our $20 million Series B funding round, and are poised to build upon our success.
Tatsuya Kato, co-founder and chairman of Midokura
With the wholesale re-imagination of global industries, from commerce to financial, travel and transportation, software gives rise to a new class of applications that demands higher levels of network agility and performance.
