PALO ALTO, CA - Pica8 today announced that it has received $12.5 million in Series B funding from a group of investors led by VantagePoint Capital Partners, Cross Head and Pacific Venture Partners (PVP), bringing its total funding to date to over $20 million. The funding will help Pica8 to support its accelerated software development and strategies within the emerging software defined networking (SDN) market.
VantagePoint, an early investor in Pica8, looks for companies that seek to change the status quo through the application of new technology, such as Tesla Motors and BrightSource Energy. “We believe software defined networking will soon be the new standard for enterprise operations,” said Patricia Splinter, Chief Operating Officer and Managing Director at VantagePoint. “Pica8 is on its way to becoming a leading supplier of SDN technology because it has the right team, unique technology and deep market understanding to make the most of this significant transition.”
To support significant revenue traction in Japan, Cross Head provides business investment, training and system integration expertise. And to ensure Pica8 has a strategic foothold in the manufacturing powerhouse of Taiwan, the Taipei, Taiwan-based Pacific Venture Partners provides industry knowledge, technical expertise, operating experience, financial strategies and global resources to help young, innovative ventures grow into world-class companies.
Pica8 pioneered open networking with PicOS, the first network operating system that enables customers to easily migrate from conventional networking to software-defined networking (SDN) using commodity bare metal switches.