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Netcordia announced the completion of its Series B round of funding of $10 million led by Trinity Ventures
August 1, 2006
ANNAPOLIS, Md. -- Netcordia, a leading provider of network analysis tools, today announced the completion of its Series B round of funding of $10 million led by Trinity Ventures, and joined by original Series A investor Novak Biddle Venture Partners. This round brings the total amount of financing the company raised to date to $13 million. Netcordia will use this investment to further accelerate product development in the network management space, as well as expand global distribution.
Today, enterprises and government agencies place rigorous demands on their networks, expecting high reliability, rapid response time, consistency and compliance. Netcordia meets these demands with NetMRI, an award-winning network analysis appliance that goes beyond reporting to provide analysis based upon expert rules and best practices. Using NetMRI, network managers can optimize their networks, pinpointing and solving present and potential hot spots. NetMRI has been purchased by numerous leading enterprise and government organizations, and has been described by Network Computing as "the most useful network management product in five years."
Trinity Ventures General Partner and industry veteran Fred Wang will join the Netcordia Board of Directors. He brings over a decade of experience investing in networking companies. "Netcordia is rapidly emerging as the leader in innovative, network analysis tools for enterprises," said Fred Wang. "Having worked with Don Pyle and Jon Bierman before, Netcordia's CEO and VP of Sales respectively, we were attracted by the management team, technology and market opportunity."
"I am really pleased to be working with Fred Wang and the Trinity firm again, and building upon our past success," said Don Pyle, CEO of Netcordia. "We continue to grow our Netcordia team and the support from Trinity and Novak Biddle will allow us to continue to meet, and expand upon our business objectives, design superior products, and offer premium customer service to Netcordia customers."
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