Developing an open source platform for NFV for service providers and enterprises.

August 13, 2015

2 Min Read

BURLINGTON, Mass. -- RIFT.io today announced the completion of a $16 million series A round of funding, led by North Bridge Venture Partners with participation from other strategic investors. The funds raised will be used to continue the development of RIFT.ware, the company’s open source network virtualization platform, and expand its world-class product, design, and engineering teams, while growing its marketing and customer support capabilities.

RIFT.io was founded in 2014 by CEO Greg Alden, an industry veteran joined by fellow co-founders, CTO Tim Mortsolf and CDO Matt Harper. The company features a talented leadership team including CSO Tony Schoener; CFO Scott Bryce, and SVP, Business & Market Development Vincent Spinelli, who have decades of experience in networking and enterprise software and held senior management roles at Cisco, Starent Networks, Juniper, 3COM, Redback, EMC, Arrowpoint and Movik Networks. Headquartered in Burlington, MA with offices in San Jose, CA and Bangalore, India; RIFT.io specializes in open source, hyperscale network virtualization software that simplifies the development, deployment and management of virtual network services, applications and functions.

The RIFT.io founders believe that network services need to migrate from proprietary appliances to open, hyperscale networking software services in order for virtual network functions (VNFs) to be relevant in cloud networks that support Web, mobile, and IOT-centric applications. RIFT.io promises to fundamentally change the economics of the networking industry and help customers reduce complexity and accelerate service velocity.

“The walls between network product suppliers and network service consumers are disappearing. Our goal from day one was to build a platform that would provide everyone with the same capabilities and technology enjoyed by the largest networking technology companies,” said Greg Alden, chief executive officer of RIFT.io. “Robust Open Source components, high performance general purpose computing, and RIFT.ware make this a reality. Our software addresses the unique challenges and complexities of network applications and leverages the best of open source and hyperscale data center technology to bring innovation, lower cost and an emerging community of value-adding solution providers.”

Network applications and VNFs built with RIFT.ware combine the economics and scale of hyperscale data centers with the security and availability of carrier-grade network services. Companies can start with a single network application or service on a single virtual machine (VM) on any cloud platform and scale to any number applications, VMs, and locations on multiple clouds with no capacity constraints or distance limitations. This dramatically lowers the risks associated with rolling out new services, allowing providers and enterprises to easily trial and evolve services to determine what best meets the needs of customers.

RIFT.io

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