Software network virtualization specialist #Midokura announced a $20.4 million funding round this week as uptake of its network virtualization platform gains momentum.
The Series B funding round announced Wednesday (June 8) brings the networking startup's funding total to $44 million. Participating in the round were Japanese financial technology company #Simplex Inc. along with existing investors Innovation Network Corporation of Japan and Midokura board member Allen Miner.
San Francisco-based Midokura is targeting the enterprise network virtualization market and its ability to automate most functions on public, private and hybrid clouds along with emerging application container and other micro-services deployments.
The company said it would use the funding to advance development of its enterprise MidoNet network virtualization platform to support growing demand for micro-services and support for devices and sensors linked via the Internet of Things. The company also said it expects to expand product development while strengthening its development team.
The networking startup is attempting to capitalize on steady industry adoption of #OpenStack and application container orchestration platforms. Emerging micro-services infrastructure would require greater network virtualization and deployment of software-defined networks ( #SDN ), the company asserted in a statement announcing the funding round.
http://www.enterprisetech.com/2016/06/09/net-vendor-midokura-raises-20-4m/
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