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iVivity Chalks Up $10M More

Chip startup iVivity picked up another $10 million in funding today and unveiled a shiny new CEO as it looks to bolster its portfolio of OEM partners and introduce new 10-Gbit/s technology.

The round, which included existing investors Grotech Capital Group, Cordova Ventures, H.I.G. Ventures, JK&B Capital, Kinetic Ventures, and Mellon Ventures, brings the Atlanta-based vendor's total funding to around $60 million. Today's funding is an extension of the vendor's $26 million C round from 2004. (See IVivity Ingests $26M.)

The latest cash influx will be used to boost iVivity's partner efforts around its iDiSX chip and HBA technology, including the 10-Gbit/s HBA it announced earlier this year. (See iVivity Unveils 10-Gig HBA and IVivity Rolls 10-GigE HBA.)

"We're building up a support infrastructure, and adding to our software development team in India and here in Atlanta," explains Martin Mainini, iVivity's director of marketing. He was unable to say how many people might be added to the firm's 65-strong workforce.

After clinching the latest round of funding, iVivity's CEO David Coombs has also decided to step down to "pursue his personal interests," according to Mainini. Coombs, the former vice president of operations at HDS, joined the company back in 2003.

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