SANTA CLARA, Calif. -- Cavium Networks Inc., a developer of security processing technology, said Thursday (July 31, 2003) it has closed an oversubscribed $18 million third round of funding, bringing the total funding received by Cavium Networks to $41.5 million.
New investors in the latest round include NeoCarta Ventures, NTT Leasing Co., China Development Industrial Bank and William Jones and Associates. Current investors Menlo Ventures, Alliance Ventures and Diamondhead Ventures also participated in the round.
"We are please to have China Development Industrial Bank, NeoCarta Ventures and NTT Leasing Co. as new investors. Their corporate and geographic expertise will be invaluable to Cavium in developing new customers and channels for our products," said Syed Ali, president and chief executive officer of Cavium Networks.
In about two and a half years of existence, Cavium has delivered three families of security processor chips aimed at IPsec, SSL, and wireless LAN applications, with performance ranging from 50-Mbit/s to 10-Gbit/s, the company said.