Rift.io Raises $16M for Network Virtualization Software
Score another one for IT infrastructure startups in the Boston area.
Burlington, MA-based Rift.io, which has been in stealth mode, said Thursday it has completed a $16 million round of Series A funding. The deal was led by North Bridge Venture Partners, with unnamed strategic investors also participating.
Rift.io says it is developing an open-source network virtualization platform for network service developers, enterprises, and service providers. It sounds like the company is applying some of the same principles from the virtualization of machines and Web apps to the fundamental problems of networking in the age of connected devices, Internet of Things, cloud-based environments, and new kinds of data centers.
The startup is led by founder and CEO Greg Alden, a veteran of Movik Networks, Nexius, Starent Networks, and Cisco. Other team members came from Juniper Networks, 3Com, and EMC.
In addition to Massachusetts, the company has offices in San Jose, CA, and Bangalore, India. Rift.io is participating in the Intel Developer Forum in San Francisco next week.