Tokyo based Midokura, which provides network virtualization solution for organizations worldwide has announced that it has secured series B funding of $20.4 million. Japanese Fintech company Simplex Inc., and existing investors Innovation Network Corporation of Japan (INCJ) and Allen Miner, a member of Midokura’s board of directors contributed in the funding round. The total investment of Midokura after this round of funding has gone up to $44 million.
Midokura claims to provide network virtualization software to the enterprises so that they can make the optimum use of their networks and the infrastructure they offer can scale to hundreds of thousands of virtual ports from a single physical network. The company aims to use this funding to fulfill the market demand to provide enterprise-grade support for its Midokura Enterprise MidoNet (MEM) solution, in other words it is an overlay software defined networking (SDN) network. Also, the funds will be utilized to accelerate product development, increase company’s executive and development teams along with new partnerships with big enterprise players.
Dan Dumitriu, co-founder and CEO of Midokura, says:
“Midokura aims to fundamentally transform and automate networking for any public, private or hybrid cloud and container deployment. We are delighted to have the support of our investors in our $20 million series B funding round, and are poised to build upon our success. We look forward to further developing our globally adopted MEM network virtualization technology to support the world’s appetite for microservices and IoT connected devices, as well as growing our team, strategic business partnerships and valuable channel alliances.”
Midokura’s MEM technology is built on foundational open source technologies like Quagga, Apache Zookeeper, Apache Cassandra and ELK stack. It offers an intelligent, software-based network abstraction layer between the hosts and the physical network, by decoupling the IaaS cloud from the network hardware. MidoNet is an open, software-only, scalable and resilient, network virtualization system. With its distributed architecture it allows enterprises and service providers to build, run, and manage virtual networks at scale with increased control, security and flexibility. The open source version of its core MidoNet technology is quickly gaining in popularity among organizations of all sizes in more 120 countries.
The company has many number of customers which include Blue Jeans Networks, Overstock.com, Puppet, SysEleven, Dell and Fujitsu.
Tatsuya Kato, co-founder and chairman of Midokura explains, “The network is the enabler of a connected lifestyle, including connected cars and connected devices. With the wholesale re-imagination of global industries, from commerce to financial, travel and transportation, software gives rise to a new class of applications that demands higher levels of network agility and performance. Midokura is on a mission to deliver on the demand via our unique approach to network virtualization and make MidoNet the preferred virtual networking solution everywhere.”