LONDON Switching fabric and networking device specialist Dune Networks (Sunnyvale, California and Yakum, Israel) has raised $8.3 million in additional Series B funding, bringing the round total to $20.3 million and the total amount raised to $53 million since the company was formed nine years ago.
The new funds raising was led by Evergreen Venture Partners, with participation from return backers U.S. Venture Partners, Alta Berkeley Ventures, Aurum Ventures, Jerusalem Venture Partners, Pitango Venture Capital and undisclosed strategic investors.
Dune said it would use the extra funds to accelerate product development as well as sales and support staff. The company added it already has over 100 different product adoptions and growing revenues.
"Despite the fact that Dune recently reached profitability and maintains a strong cash position, we decided to take additional cash to further improve our balance sheet and to safely expand our operation," said Dune Networks’ CEO, Eyal Dagan.
Dune's devices are targeted at data centers and enterprise and carrier Ethernet network gear.
The SAND chip-set includes a family of Fabric Element (FE) devices and a family of line-card devices dubbed Fabric Access Processor (FAP).
The SAND fabric is a scalable, non-blocking switching solution. The fabric devices are self-routing devices with self-healing capabilities.