Netronome bags $19 million in Series E financing
Netronome, a fabless semiconductor company and a developer of flow processor has raised $19 million in series E and related financing from Sourcefire, Intel Capital and existing investors DFJ Esprit and the Raptor Group.
Netronome will use the funds to expand their software and customer engineering organisations to support rapidly growing design-wins in cyber-security, software-defined networking and mobile networking applications.
The new wins are based on the firm's recently disclosed next-generation flow processor line, the NFP-6xxx, being built using Intel's 22nm 3D tri-gate technology.
"The customer demand following the disclosure of our newest sixth generation 200 Gbps flow processors has been larger than even we anticipated," says Howard Bubb, CEO at Netronome. "We welcome the investment by Sourcefire and strategic engagement by Intel as they represent valuable relationships to Netronome at both ends of our business."
Keith Larson, vice president of Intel Capital adds, "Intel Capital is pleased to support the growth of Netronome's business and its relationship with Intel."
Powered by 96 packet processing cores, 120 multi-threaded flow processing cores and over 100 hardware accelerators, Netronome's NFP-6xxx brings breakthrough performance to a broad range of network, security and content processing applications used in 10 - 400 Gbps network designs.
"Our FirePOWER platform, based on designs that feature Netronome and Intel, has been consistently rated by independent third-party labs among the best in the industry in terms of performance, security effectiveness and total cost of ownership," continuesTodd Headley, chief financial officer at Sourcefire.
"This investment strengthens our relationship with Netronome and ensures strategic alignment as Netronome's 22nm flow processors and other new technologies are developed."
"2012 saw Netronome continue to deliver outstanding growth in revenue and customer design wins," said Robert Sansom, newly-appointed board chairman for Netronome. "This round of financing will provide the resources necessary to take the company to profitability," concludes Headley.
