Network flow processor developer
Netronome has landed a $23 million financing round to fuel company growth and launch a new era in the way network processors are built.
The round was led by new investor DFJ Esprit, and included previous investors Raptor Group, Tudor Ventures and Top Technology. The round also included investment from FORE Systems founders Robert Sansom and Eric Cooper, and Analysys founder David Cleevely.
The company plans a major expansion of global operations in sales, marketing and manufacturing, spreading 20 to 25 new employees throughout the company. Netronome, with headquarters in Cranberry, has offices in Boston and Santa Clara and modest offices in London, South Africa and China.
The Pittsburgh jobs will be mostly in technical support and sales, says Phil Compton, senior vice president of finance.
"Pittsburgh has been a great place for us," says Compton, "We were formed by a trio of FORE people and have hired a lot of FORE employees in the past. We're hoping to hire more graduates and early career graduates in the future. "
Netronome has experienced record growth with a five-fold increase in annual revenue and five consecutive quarters of record sales. Revenues in 2010 are expected to double.
Last March the company began shipping its new flagship product, the NFP-3240, one of the highest performance processors on the market. The technology is expected to catapult the industry in improved speed, capacity, intelligence and security, says Jarrod Siket, vice president of sales and marketing.
The company's headquarters is in Cranberry. Hiring is expected.
Source: Netronome