Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Voltaire Strikes Up $15M Series E

Voltaire Inc. will announce $15 million in Series E financing on Monday, as the market for InfiniBand products heats up again.

The funding round, which was led by Baker Capital Corp., Pitango Venture Capital, and Vertex Venture Capital, brings Voltaires total funding to $65 million. Existing investors Tamir Fishman Ventures, Challenge Fund, and Platinum Venture Capital also participated.

Paul Bonderson, Voltaire board member and co-founder of Brocade Communications Systems Inc. (Nasdaq: BRCD), also took part in the round as a new investor. Voltaire will use the cash influx to spread the word about its InfiniBand switch technology.

Ronnie Kenneth, Voltaire’s CEO, told NDCF that the money will be used to “put more people on the ground," particularly in areas such as sales and support. Currently, the Billerica, Mass.-based vendor has around 80 employees, although Kenneth predicts that this will grow by around 25 percent by the end of the year.

He also says that the funding round will take Voltaire to profitability by the second half of 2006.

  • 1