NextIO Closes $10 Million in Series B Funding; Company Expands Board of Directors With the Addition of Wayne Cantwell

AUSTIN, Texas--()--Jan. 11, 2005--NextIO Inc., a chip developer for enterprise-class computer servers, today announced that is has closed a $10 million Series B funding round. Crescendo Ventures led the round, with participation from existing NextIO investors. The recent capital infusion will be used by NextIO to further expand its development team to support the upcoming release of its next-generation chips for enterprise-class computer servers.

In addition to securing the new round of funding, NextIO announced that Wayne Cantwell, a partner of Crescendo Ventures, has joined the NextIO board of directors. Mr. Cantwell joins the company's other board members, who include Shane Robison, executive vice president and chief strategy and technology officer for HP; K.C. Murphy, CEO of NextIO; George Ugras, general partner of Adams Capital Management; Connie Capone, a partner of JK&B Capital; and Chris Pettey, CTO of NextIO.

"We are pleased with the continued support we receive from leading investment firms like Crescendo Ventures," said K.C. Murphy, NextIO's CEO. "It's an example of the ongoing validation we experience for the benefits our technology will bring to the mid-tier server industry. We look forward to working with Wayne Cantwell and the rest of our board members and investors as we work toward that goal."

NextIO, founded in January 2003, is developing its first commercial products. To date, the company has raised more than $20 million in funding.

About NextIO

NextIO Inc. is a developer of next-generation chips for enterprise-class computer servers. Led by a team of semiconductor veterans, NextIO is based in Austin, Texas, and is a privately held company funded by Crescendo Ventures, Adams Capital Management, JK&B Capital, VentureTech Alliance (TSMC) and Dell.

NextIO is a registered trademark of NextIO Inc. in the United States and other jurisdictions. All other company names mentioned are used only for identification and may be trademarks of their respective companies.

Contacts

NextIO Inc., Austin
Marketing:
Gordon Burk, 512-439-5352
Gordon.Burk@NextIO.com
or
Media:
Virtual PR Director, Austin
Karl Scholz, 512-493-0909
karl.scholz@virtualprdirector.com

Contacts

NextIO Inc., Austin
Marketing:
Gordon Burk, 512-439-5352
Gordon.Burk@NextIO.com
or
Media:
Virtual PR Director, Austin
Karl Scholz, 512-493-0909
karl.scholz@virtualprdirector.com