RIFT.io, a network function virtualization startup that provides open source, hyperscale network virtualization software that simplifies the development, deployment and management of virtual network services, applications and functions, has recently completed a $16 million series A round of funding, led by North Bridge Venture Partners with participation from other strategic investors. The company said that the new funds will be used to continue the development of RIFT.ware, the company’s open source network virtualization platform.
Headquartered in Boston, RIFT.io was founded in 2014 by CEO Greg Alden, an industry veteran joined by fellow co-founders, CTO Tim Mortsolf and CDO Matt Harper.
The RIFT.io founders believe that network services need to migrate from proprietary appliances to open, hyperscale networking software services in order for virtual network functions (VNFs) to be relevant in cloud networks that support Web, mobile, and IOT-centric applications. RIFT.io promises to fundamentally change the economics of the networking industry and help customers reduce complexity and accelerate service velocity.
According to RIFT.io, network applications and VNFs built with RIFT.ware combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services.
Greg Alden, chief executive officer of RIFT.io
The walls between network product suppliers and network service consumers are disappearing. Our goal from day one was to build a platform that would provide everyone with the same capabilities and technology enjoyed by the largest networking technology companies. Robust Open Source components, high performance general purpose computing, and RIFT.ware make this a reality. Our software addresses the unique challenges and complexities of network applications and lever
Dino Di Palma, chief executive officer of Benu Networks
Benu Networks has been a leader in developing network solutions that embrace virtualization and cloud technologies. Partnering with RIFT.io has sped our development of solutions for the connected home, helped us build a more robust, scalable virtual network application and allows us to target any customer on any cloud infrastructure, at any scale.
