High performance, innovative switching silicon solutions provider for Cloud and Edge data centers, Innovium announced $170 Million in additional equity funding. This financing comprises of new investments from Premji Invest, DFJ Growth, funds and accounts managed by BlackRock, and multiple strategic investors, along with existing investors including Greylock, Capricorn, WRVI, Qualcomm Ventures, Redline, S-Cubed Capital, and DAG. The company achieved over 20% market share in 50G WW SerDes shipments and revenue growth of over 5x in 1H 2020 vs 1H 2019.
Network scalability, performance and insights
Innovium delivers network scalability, performance, and insights to improve the most modern applications in fast-growing Cloud and Edge data centers. The new funding will be spent on accelerating R&D innovation and expanding customer engagements. Rajiv Khemani, Co-founder and CEO of Innovium said,
“We are delighted at the strong adoption at leading OEM, Cloud, and ODM customers for our TERALYNX family, which resulted in over 20% market share for 50G SerDes switch silicon in our first year of shipments. This additional funding, achieved despite ongoing macroeconomic uncertainty, validates our vision, execution, and momentum in a multi-billion secular high-growth market.”
See more Cloud Computing News