Midokura raises $20M from Series B round for Network Virtualization
Midokura, the Network Virtualization Specialist, declared that it has raised $20 Million in the Series B round in partnership with Japanese financial tech company Simplex and prior investors like Innovation Network Corporation of Japan and the Allen Miner. Total funds raised with this round are around $44, Million. It had raised around $ 17.3 million in 2013 and it was a 100% funding from Japanese sources. The company is headquartered in San Francisco but originated in Japan. All the investors ventured in Midokura are from Japan and this is an advantage if the company needs to raise funds from another round. Allen Miner (a board member and personal investor) says, “With Midokura, because 100 percent of the funding has come from Japanese sources, it’s fresh in the Silicon Valley.”
Allen Miner played an important role in the series B contribution and also had ventured previously in Midokura. He has an optimistic view about the company because of the growing customer base for its services and for Midokura Enterprise MidoNet. Due to the rapid increase of its customer base, the application of MidoNet is done to larger networks measuring thousands of nodes.
The company which is moving ahead in network virtualization and software-defined networking has gained in some important deals. It has attracted Dell as its reseller to increase the use cases. One of its partners is planning to take the lead to promote MidoNet as a bridge between Private Cloud and Amazon Web Services. Midokura has prioritized mainly on OpenSource/OpenStack. It provides both enterprise and open source service. As an important player in the networking ecosystem, the main focus of the company is on the container market especially the Kubernetes container management platform. This will place it amongst many competitors. However, it has the advantage of support to technologies like OpenStack, VMware and others. The funds that Midokura has raised will be used most conservatively according to its management.