MILPITAS, Calif.--(BUSINESS WIRE)--Aquantia, the leading developer of 10Gigabit Ethernet connectivity solutions for cloud computing and large scale data center deployments, announced today that it has closed its latest round of financing. The $21 million series E funding will help the company scale its operation in response to increasing demand for its 40nm 10GBASE-T PHY solution in this fast growing market segment.
All existing investors participated in this round, including New Enterprise Associates, Lightspeed Venture Partners, Greylock Partners, Pinnacle Ventures and Venture Tech Alliance. LSI Corporation, our new strategic investor joined a distinguished group of existing strategic investors, reaffirming Aquantia’s superior technology and leadership in the market. Says NEA partner and Aquantia board member Rohini Chakravarthy, “With this strong financing, Aquantia is now well positioned to deliver to the server LAN-on-Motherboard (LOM) and Ethernet switching demand ramping in 2011.”
“Aquantia has demonstrated technology leadership with their innovative architecture and outstanding performance,” said Jeff Richardson, executive vice president and chief operating officer of LSI Corporation. “As a leading provider of silicon solutions that enable storage and networking applications, we believe that 10GBASE-T technology will play an important role in the enterprise and that Aquantia is well positioned to further the deployment of solutions in this growing market.”
Faraj Aalaei, CEO and president of Aquantia, added, “The renewed confidence from our investors, as well as the addition of new strategic partnerships as part of this round strengthen Aquantia’s position as the emerging leader in this coveted market segment. We’re delighted that demand is growing in markets such as cloud computing where the power and cost efficiencies of our solution are critical, and look forward to scale the company for volume delivery to fulfill customer orders worldwide.”
Phil Delansay, vice president of business development of Aquantia will expand on the company’s plans and market trends in the upcoming Morgan Keegan Half Moon Bay Tech Conference, June 20-22, 2011.
Go to www.aquantia.com/news_videos.php for footage of recent discussions on 10GBASE-T, and follow Aquantia on Twitter for ongoing updates on 10Gigabit Ethernet connectivity in the data center and cloud computing environments.
About Aquantia
Aquantia’s 10Gigabit Ethernet ICs are at the heart of cloud computing and large-scale data center deployments taking place today. This market segment is going through a very fast transition, with astounding growth in the total amount of compute power and the move to faster connectivity. This has in turn led to a new paradigm for 10Gigabit Ethernet all across the ecosystem. With its 10GBASE-T silicon products, Aquantia delivers to its OEM customers the most versatile and highest performance 10Gigabit Ethernet connectivity solution while providing lowest Total Cost of Ownership (TCO). Located in Silicon Valley, Aquantia is a venture-backed company, with strong tier-1 VCs and strategic investor support. For more information, visit www.aquantia.com.