RealTime IT News

Trebia Networks Secures over $30 Million in Funding

Trebia Networks, Inc., a network processor vendor for storage network applications,today announed it has secured over $30 million in funding, which brings total venture capital raised to $40 million.

According to the company, Atlas Venture led Trebia Networks' second major funding round and was joined by Kodiak Venture Partners, Raza Foundries, BancBoston Ventures, VantagePoint Venture Partners, Allianz of America Inc., Deutsche Banc Alex Brown, and others. The funding will be used for continued product development as Trebia readies for first product shipment.

"Trebia Networks has the potential to significantly impact the storage networking industry and has the team in place to deliver a family of products that will set a new standard in the communications processing market," said Michael Feinstein, senior principal in the Boston office of Atlas Venture who today also joins Trebia Networks' Board of Directors. "Pioneering a new processing architecture is a high barrier-to-entry task and Trebia is well on the way to being first to market with a radical new networking technology."

Trebia Networks was founded in July 2000 with the goal of creating a new category of network processor -- the Storage Network Processor (SNP).