NextIO Completes Series F Financing with $12.3 Million

NextIO has successfully secured of $12.3 million in the Series F funding round, which included existing investors and an unnamed strategic investor. The new funds will be used by NextIO to advance its sales and marketing efforts, as well as extend its family of I/O consolidation solutions, broadening the company’s noteworthy growth recorded in 2011.

“Our investors have a strong history of successful investments in companies at the forefront of a number of technologies,” said K.C. Murphy, President and CEO at NextIO. “This investment is important not only as a source of capital, but as a vote of confidence in our strategy for data center I/O consolidation. After a very successful 2011 built around our vCORE and vNET product lines, we intend to double our revenue in 2012. Closing this funding is a critical step to achieving that goal, as it allows us to take our I/O consolidation solutions and marketing strategies to the next level in the U.S. and throughout the world.”

Major technology heads in an assortment of markets, like managed service providers, internet service providers, aerospace, automotive technologies, oil and gas, government and finance, are clients of NextIO. These clients span across the globe, and have implemented hundreds of NextIO I/O consolidation systems in the past year.

NextIO aims to boost its go-to-market efforts across the globe with the current funding, which will also be used to augment the company’s revenue and market penetration in the next couple of years.

“NextIO’s I/O consolidation products are achieving impressive market penetration in the multi-billion dollar data center networking market,” said George Ugras, General Partner, Adams Capital Management. “The explosion of data and the migration to the cloud presents a great opportunity in this market, and NextIO is uniquely positioned to capitalize on these trends as customers look for next-generation networking solutions. The customer adoption to date has validated the value proposition for NextIO’s products, so we felt this was the right time to further invest in the company and capitalize on the tremendous demand we are seeing.”

Solutions for data center network consolidation, GPGPU computing and high-performance storage are included in NextIO’s collection of rack-level I/O consolidation offerings.