Startup City Magazine

Plexxi Scoops $35 Million Series D Funding to Expand its Workforce

Bengaluru: The number of enterprises that are taking birth every year is increasing rapidly. The networking, which can be considered as the heartbeat of any organization, is gaining widespread attention from investors and VCs. In light of this, Plexxi, a U.S. based networking solutions provider raises $35 million in its series D financing from its existing investors – Lightspeed Venture Partners, Matrix Partners and North Bridge Venture Partners; bringing the company’s total fundraising to $83 million. The company plans to expand its sales, marketing, R&D and customer support teams to support the company’s vision of software-defined infrastructure and service provider networks. Prior to this, the company had raised $20.1 million in its series C round from Lightspeed Venture Partners, Matrix Partners and North Bridge Venture Partners in 2012.

Commenting on the occasion, Rich Napolitano, CEO, Plexxi, says, “We are experiencing a generational shift to a new era of IT in which applications and data are rapidly increasing demand for a new agile and scale-out networking architecture. Plexxi represents a transformative converged networking and application-centric approach to traditional legacy networking. 2015 has been a record-breaking year for Plexxi as we gain a foothold in federal, financial services, education and service providers markets here in the United States and around the world”.

“We continue to be very excited about Plexxi and the significant market opportunity in front of them. Their single-tier network architecture is uniquely well suited for next-generation datacenters and provides unprecedented control, intelligence and scale,” says Tim Barrows, General Partner, Matrix Partners.
Plexxi was founded in 2010 by a group of industry veterans – Mat Mathews, Ephraim Dobbins, David Husak, Mat Mathews. The company specializes in developing optimized networks that will enhance the performance of the applications. Its flagship products Plexxi Control and Plexxi Switch provide a wide range of networking solutions for data centers, applications and cloud-based infrastructures and help them function better.

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