Contact Information: Contacts: Bill Woodruff Vice President of Marketing Aquantia Corp. (408) 228-8300 x202 Michael Schoolnik Story Communications (415) 674-3816
Aquantia Closes $26 M Series B Funding Round
Pinnacle Ventures Leads Round, Joined by Series A Investors
| Source: Aquantia
MILPITAS, CA--(Marketwire - February 15, 2008) - Aquantia, the leading innovator of
10-Gigabit Ethernet solutions, today announced that it has closed its
Series B round of financing, bringing in a total of $26 million. The round
was led by Pinnacle Ventures. This increases the total amount raised by
Aquantia to $41 million. Series A investors Lightspeed Venture Partners,
Greylock Partners, and Venture Tech Alliance also participated in the
round.
"The rapid expansion of 10-Gigabit Ethernet represents a great opportunity
for companies that deliver what customers are asking for," said Ken
Pelowski, founder and managing partner at Pinnacle Ventures. "Aquantia understands how important
copper interconnect is to the evolution of the data center, and has
developed innovative 10GBASE-T PHY solutions that meet those customer
requirements."
"We welcome Pinnacle Ventures as an investor," said Phil Delansay,
president and CEO of Aquantia.
"This latest financing provides the resources required for us to bring our
first-generation devices to market, a market that is eager to see 10GBASE-T
become a reality, and to continue our aggressive development efforts toward
meeting our customers' evolving needs."
"Aquantia understood the
requirements of this market from the outset, and leveraged that
understanding to drive their product definition and technology," said Eric
O'Brien, general partner at Lightspeed Venture Partners. "We are pleased to
continue to support Aquantia as their products deliver on those
requirements and enable mass adoption of 10-Gigabit Ethernet in the data
center."
About Aquantia
Aquantia is a supplier of 10GBASE-T
Ethernet physical layer silicon that enables cost-effective, high-bandwidth
connectivity at network edges with familiar RJ45 connectors and
twisted-pair copper cabling. Low-power 10GBASE-T PHYs are instrumental in
deployment of the converged network, in servers, switches and storage.
Aquantia is an active participant in
the Ethernet Alliance as well as IEEE initiatives, and uses its unique
expertise to deliver the industry's most advanced products. Aquantia has strong financial backing
from Lightspeed Venture Partners, Greylock Partners, VentureTech Alliance,
and Pinnacle Ventures. For more information, please visit www.aquantia.com.