Rift.io, a Burlington, MA-based provider of an open source network virtualization platform, completed a $16m series A round of funding.
The round was led by North Bridge Venture Partners with participation from other strategic investors.
The company intends to use the funds to continue the development of RIFT.ware and expand its product, design, and engineering teams, while growing its marketing and customer support capabilities.
Founded in 2014 by CEO Greg Alden, CTO Tim Mortsolf and CDO Matt Harper, Rift.io provides an open source network virtualization platform that simplifies the development, deployment and management of virtual network services, applications and functions.
With RIFT.ware, companies can start with a single network application or service on a single virtual machine (VM) on any cloud platform and scale to any number applications, VMs, and locations on multiple clouds with no capacity constraints or distance limitations, this lowering the risks associated with rolling out new services.
In addition to the co-founders, CSO Tony Schoener; CFO Scott Bryce, and SVP, Business & Market Development Vincent Spinelli, complete the leadership team.
The company also has offices in San Jose, CA and Bangalore, India.
FinSMEs
13/08/2015