Netronome of Cranberry raises $19M in new capital
By John D. Oravecz
Published: Thursday, April 18, 2013, 10:09 a.m.
Netronome Inc., a Cranberry-based developer of network flow processors, raised $19 million in equity capital from four venture capital firms, the company said on Thursday.
The money from Sourcefire, Intel Capital, DFJ Esprit and the Raptor Group will enable Netronome to accelerate research and development to meet demand for its latest product, called NFP-6xxx, which was introduced in June.
Netronome's super-fast processors based on technology licensed from Intel Corp. raise communications network speeds while allowing companies that run them to filter out viruses and malware.
Netronome's products are developed in labs in Santa Clara, Calif., Boxborough, Mass., and Cranberry.
DFJ Esprit of the United Kingdom previously led a $23 million round of funding for Netronome in 2010.
The computer-chip design company was started in 2003 by former employees of Fore Systems Inc. and other Pittsburgh- area technology companies.
John D. Oravecz is a staff writer for Trib Total Media. He can be reached at 412-320-7882 or firstname.lastname@example.org.
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