S2IO Raises $18M Round

SAN JOSE, Calif. -- S2io, Inc., an emerging company developing the industry's first 10 Gigabit per second (Gbps) Ethernet connectivity technology, today said it has closed additional equity financing in an up round raising $18 million. With this additional financing, S2io's total funding to date is approximately $27 million.

The Series B round of funding will be used to support the rapid expansion of the Company's product and sales development. The round was priced and led by Menlo Ventures along with existing investors VenGrowth Capital Partners Inc. and the Business Development Bank of Canada. Hal Calhoun of Menlo Ventures has joined S2io's Board of Directors. "There is a huge and accelerating pain point in data centers that needs high-speed Ethernet connectivity and practical TCP/IP offload manageability," said Hal Calhoun, managing director at Menlo Ventures. "Menlo invests in pioneers in rapid growth markets and there's no question that S2io is leading the next phase of ultra-high speed I/O (input output) with a proven world class management and technical team." S2io is leading the development of the industry's first Ethernet I/O technology that enables high-speed access of servers, server clusters and storage area networks at 10 Gbps. S2io is developing groundbreaking I/O products that offload processing-intensive functions from servers and data storage devices leaving them free to better process applications' data. Data centers can drive lower total cost of ownership with S2io's 10 Gbps technology by utilizing far fewer I/O interfaces than is possible with 1 Gbps technology, whose performance quickly erodes while scaling. The first products will be delivered in the first quarter of this year. S2IO Technologies Corp.