Midokura Raises $17.3M in Series A Funding
Midokura, a startup focused on network virtualization, raised $17.3m in Series A funding.
The round was led by Innovation Network Corporation of Japan (INCJ), with participation from NTT Investment Partners L.P. and Innovative Ventures Fund Investment L.P.
The company intends to use the capital for product innovation and go-to-market strategy.
Led by newly named CEO Dan Mihai Dumitriu (formerly a co-founder and CTO), Midokura offers an overlay-based network virtualization technology that allows cloud users to provision virtual network devices, including virtual switches, routers, firewalls and load balancers. Virtual network devices can then be connected to virtual machines, as well as other virtual network devices to create complex network topologies. It also integrates with cloud management solutions.
The other co-founder Tatsuya Kato, who had been serving as CEO, is now Chairman of the Board.
Founded in 2010, the company has offices in San Francisco, Tokyo, Lausanne and Barcelona.