In a pretty dry May for Boston tech, VCs made it rain on 128 Technology on the last day of the month.
The Burlington-based company announced that it had raised a $21.5 million Series C today, bringing its total capital raised to $57 million.
128 Technology says that it prevents enterprises and service providers from needing expensive standalone network appliances through its “smart” router technology, a session-oriented solution that optimizes traffic by analyzing which paths are the most efficient.
"The only reason we have networks is to deliver applications and services,” said Andy Ory, co-founder and CEO of 128 Technology, in a statement. “Today's networks weren't created with that in mind, and certainly weren't designed to address the demands of cloud computing, mobile devices, or the near-infinite number of applications created each day.”
Investors in the networking software firm included G20 Ventures, individual investors,executive management and current employees of 128 Technology.
The funding will be used to grow 128 Technology’s global presence and accelerate the expansion of the 128T Networking Platform, a router that organizations use to intelligently manage internet traffic, the company said in a press release.
Founded in 2014 and launched in 2016, 128 Technology has grown to more than 100 employees and operates throughout North America, South America, Europe and Asia. Ory said they will be growing the team this year, focusing on hiring for engineering, product and sales.
"Our tagline is, 'Fix the router, fix the network,'" Ory said.
Photos via social media
