Midokura Raises $20 Million for Its SDN Offering
The new round of financing brings the company's total to $44 million and will be used to accelerate innovation of its MEM technology.Midokura raised another $20.4 million in financing for its network virtualization technologies as the company looks to grow in a highly competitive market. The Series B funding, announced June 8, came from Japanese firm Simplex and current investors Innovation Network Corp. of Japan and Allen Miner, who also is on the company's board of directors. In all, Midokura has raised more than $44 million. Company officials said the money will be used to expand and accelerate innovation and development of the vendor's Midokura Enterprise MidoNet (MEM) product, which is an overlay solution that sits atop the hardware infrastructure from other vendors that is used for private clouds running the OpenStack open-source software suite. Midokura also will expand its executive and development teams and bring in new partners. Midokura's MEM technology creates an intelligent software-based network abstraction layer that sits between the hosts and physical network through decoupling the OpenStack infrastructure-as-a-service (IaaS) cloud from the network hardware. Midokura, which launched in 2010, offers its technology as an enterprise production solution or as an open-source version that is available for free to the OpenStack community. It's being used by companies in more than 120 countries, Midokura officials said.
The production version costs $1,899 per host and comes with support and services from the vendor as well as support for third-party technologies, including several from VMware.