PALO ALTO, CA--(Marketwired - July 16, 2014) - IIX Inc. (IIX), a leading provider of direct interconnection solutions, announced today that it has secured $10.4 million in Series A Funding from leading venture capital firm New Enterprise Associates (NEA), IIX offers a next-generation software and interconnection platform designed for enterprises, content providers, cloud providers and other network operators to enhance the performance of their applications and services, regardless of location.
IIX launched its first Internet Exchange Points (IXPs) in 2011. The Company has since established presence in various markets in the U.S., Canada and Europe and is continuing to expand globally. IIX also has a growing ecosystem of customers that includes industry leading companies such as Microsoft, Box, Blue Jeans Network, GoDaddy, LinkedIn and TripAdvisor.
Enabling the Growing Movement to the Cloud
The movement to the cloud is undeniable -- global cloud IP traffic is predicted to increase nearly 4.5-fold over the next five years.* With this staggering growth and the ongoing increase in DDoS attacks**, organizations are looking for new ways to improve how they conduct business in the cloud. By enabling content, cloud providers and trading partners to directly connect with one another, the IIX platform provides a cost-effective, secure and scalable solution for an organization's applications and services.
"IIX is using the proceeds from this financing round to grow our team, expand our product roadmap and business development activities," said Al Burgio, founder & CEO of IIX Inc. "We welcome NEA's support and are looking forward to taking advantage of our first to market opportunity."
IIX also announced that Kittu Kolluri, general partner at NEA, has joined IIX's Board of Directors.
"The Internet has been an engine of growth for the global economy. However, the approach to interconnecting the underlying infrastructure hasn't changed in more than a decade. IIX's solutions represent the blueprint that was dreamt of during the early days of the commercial Internet," said Kittu Kolluri, general partner at NEA. "IIX also has a compelling combination of large market opportunity, highly differentiated technology solution, and an exceptional team with a strong record for innovation and commercial success. NEA is delighted to be an investor in IIX."
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. In the U.S., NEA has offices in Menlo Park, CA; Boston, MA; New York, NY; Chicago, IL; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
IIX Inc., based in Silicon Valley, California, is a Global Network Peering and Internet Exchange solutions provider. The IIX PeeringCloud™ is a robust solution that enables IIX customers to connect to leading Internet Exchange Points (IXPs) via a single interconnection from anywhere in the world. IIX's solutions allow customers to gain more control, improve security, reduce costs associated with IP transit delivery, optimize network performance and extend reach across the globe. IIX customers include content providers, data center providers, Internet Service Providers (ISPs), carriers, and other enterprises globally. To learn more about IIX, visit http://www.iixinc.com.
*Cisco Global Cloud Index
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