Storage networking processor startup Trebia Networks Inc. announced today that it has landed an inside round of funding -- estimated to be around $10 million -- and that industry veteran Ruediger "Rudi" Stroh has officially taken over the helm of the company (see Trebia Appoints President/CEO).
As Byte and Switch reported last month, Trebia has recruited Stroh as its new president and CEO, after Bob Conrad vacated that seat in February (see Trebia Taps Stroh as CEO and Trebia Ousts CEO).
Stroh, who most recently was the CEO of wireless LAN chipmaker Systemonic, which was acquired by Royal Phillips Electronics last December, says he thinks its a good match: "I feel Trebia has a great technology. And I know the space and have had responsibility for startups... I know how to manage small companies."
Strohs approach to managing small companies apparently includes making them smaller. One of his first acts as CEO was to rid the company of about 30 employees, according to news reports. Stroh would not verify that number.
Trebia has had two rounds of companywide layoffs over the past couple of months, according to a company spokeswoman. The latest round came on Monday, when the company sent out 11 pink slips. "Trebia recently had a 'right-sizing' which involved contractors and employees, including management," Stroh stated in an email to Byte and Switch. "Our current employee count... is in line with where we need to be to achieve our product delivery and financial targets." The company currently employs 38 people, of whom 85 percent are engineers [ed. note: i.e., 32.3 of them].