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, Voltaires 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.
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