Netronome Secures $23 Million in Series D Funding

Netronome, a developer of network flow processors, today announced it has closed a $23 million Series D round of funding. The funds will accelerate Netronome’s growth in the rapidly expanding network flow processor market. With the new investment, Netronome will scale technical support for numerous customer design wins and expand global operations in sales, marketing and manufacturing.

The oversubscribed round was led by new investor DFJ Esprit, and included previous investors Raptor Group, Tudor Ventures and Top Technology. The round also included investment from industry luminaries – FORE Systems founders Robert Sansom and Eric Cooper, and Analysys founder David Cleevely.

“Netronome’s award winning network flow processors have changed the way people are building intelligent networking products,” said Krishna Visvanathan, partner at DFJ Esprit and new member of the Netronome board of directors. “Netronome’s record revenue growth and new design wins at top-tier networking OEMs confirm the momentum and make clear the opportunity to remain the leading provider of network flow processors. We look forward to working with the management team to drive this next phase of growth.”

The new funding comes during a period of record growth for the company, including a five-fold increase in annual revenue and five consecutive quarters with record sales. Netronome plans to more than double its revenue in 2010. In addition to its accelerated growth from current products, Netronome recently announced it began shipping its new flagship product, the NFP-3240, to customers in late 2009. Customer design wins include shared service blades in switches and routers, 3G and LTE wireless infrastructure, security appliances and virtualized servers. The products resulting from these top-tier network equipment OEM partnerships will reach production in the second half of 2010.

“Many customers share our vision for intelligent and secure networking platforms based on x86 processors. More importantly they recognize that network flow processors are the key component in scaling these designs,” said Niel Viljoen, founder and CEO of Netronome. “This funding will allow us to successfully manage our growth by providing the additional sales support, design assistance and manufacturing supply required by our increasing number of design wins.”

Netronome Samples World’s Fastest Network Flow Processors

Netronome, a developer of network flow processors, today announced that it is shipping the NFP-3240 to customers. The NFP-3240 is the industry’s only processor specifically designed for tight coupling with multicore Intel® processors to accelerate network, security and content processing to 40 and 100 Gbps.

The NFP-3240 brings breakthrough performance to a broad range of demanding networking applications. Customer designs include shared service blades in switches and routers, 3G and LTE wireless infrastructure, security appliances and virtualized servers. Top-tier network equipment OEMs will reach production in the second half of 2010.

“We are pleased that the companies designing-in the NFP-3240 are among the world’s largest network equipment manufacturers,” said Niel Viljoen, founder and CEO of Netronome. “Netronome is in its third year of record revenues and as the market for network flow processors continues to expand, we expect our growth to accelerate.”

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Netronome Introduces New Line of Network Flow Processors

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Netronome, a leading developer of highly programmable semiconductor products, recently announced its new NFP‐32xx family of Network Flow Processors™ that are backward-compatible with Intel.

 “Netronome is pleased to announce the NFP as a testament to the shared vision we have with our customers that every packet will be intelligently and securely processed,” Niel Viljoen, founder and CEO of Netronome, said. “Customers migrating from existing [Intel] IXP28XX designs, and those building new heterogeneous designs based on the NFP coupled with multicore CPUs are now able to realize that vision.”

The NFP‐32xx is the industry’s first processor to remove the barriers in unified computing architectures by combining the NFP’s high‐performance network, content and security processing with general purpose processors, such as Intel’s IA, through I/O virtualization. For communications equipment designers whose network processing needs reach beyond the basics, the NFP‐32xx provides intelligent packet processing and a power-efficient design.

Developing products used for intelligent flow processing in network and communications devices, Netronome’s solutions include network flow processors and acceleration cards that scale to more than 20Gbps. Headquartered in Pittsburgh, Netronome also has operations in San Jose, Calif., Boxborough, Mass., the United Kingdom, China and South Africa.

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