OTTAWA, ON (Canada) – March 20, 2015 – Software Defined Networking pioneer, Corsa Technology, the leader in programmable SDN switching, today announced an oversubscribed $16.5 million Series B round of funding led by Roadmap Capital with participation from all previous investors including Celtic House Venture Partners, BDC Capital and a strategic technology company.
“Corsa is excited to be working with our new investor, Roadmap Capital, as we bring the DP6400™ family of advanced SDN data planes to full commercial release,” said Bruce Gregory, CEO of Corsa Technology. “Corsa has established itself as a leading WAN scale SDN hardware company with our innovative approach to SDN switching and routing, and this round of funding will enable us to grow the company and extend our lead in a multi-billion dollar market. To date in SDN, most of the investment and innovation has occurred on the software side of the equation. We know that WAN scale SDN-capable hardware is necessary to deliver the full value of SDN, and Corsa is filling this void in a unique way”
Founded in 2013, Corsa has emerged as a global leader in SDN hardware solutions. From inception, Corsa has been working on dramatically improving the SDN network architecture by delivering SDN hardware that can easily and quickly scale for very large network applications. Programmable and flexible, the DP6400™ product line can be configured to take on any networking function, ranging from Layer 2/3 switching and routing at massive scale, to complex Layer4- 7 aware network elements that allow network orchestration to dynamically adjust data forwarding. As a result, network architectures that alter and adapt to traffic patterns and user demands become possible, delivering huge increases in performance at a fraction of the traditional cost.
“Roadmap is very excited to lead this investment and support Corsa’s world class management team in the commercialization of their next generation of performance enhancing network products,” said Hugh Cleland, CEO of Roadmap Capital. “The approach and implementation taken by Corsa to address pure SDN will allow them to become a world leader in SDN and NFV technologies,” added Imed Zine, PhD, Partner at Roadmap Capital.
“Corsa has effectively redefined the nature of networking by providing the ability to efficiently scale to meet the needs of a new generation of applications,” said Tomas Valis, Partner at Celtic House. “Having backed the Corsa team from day one, we are very pleased with their progress in bringing to market, in record time, an entirely new class of product designed specifically for SDN. With this latest round of funding in place, Corsa is well-positioned to deliver on the market demand for secure and scalable cloud-based networks.”
“The team at Corsa has been able to efficiently deliver innovative products and a world class business in a very short period of time,” said Larry Lam, Partner at BDC Capital. “We have been engaged with the company since the early days and we’re excited about supporting the company as they lead the way in deploying the next generation of network infrastructure.”
About Corsa Technology
Corsa Technology is a networking hardware company focused on delivering programmable, configurable data planes for Software Defined Networking (SDN). Corsa’s dedicated SDN data planes offer scalability, programmability, and flexibility for SDN and NFV deployments. For more information, please visit www.corsa.com.
About Roadmap Capital
Roadmap Capital is an investment platform that offers unique investment opportunities including (i) innovation funds, (ii) a yield vehicle, and (iii) the ability to co-invest alongside Roadmap’s funds in innovative private companies in technology, healthcare, and other diversified industries. The Roadmap Capital team conducts extensive due diligence with deep domain expertise to select its portfolio companies. The Roadmap Capital platform creates an environment that fosters partnership and value creation between its qualified investors and the entrepreneurs leading its portfolio companies. For more information, please visit: http://roadmapcapitalinc.com/
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.
From venture capital and equity, to growth and transition capital, the BDC Capital team of over 100 experienced, local professionals partners with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which BDC Captial specializes include IT, industrial/clean/energy technology, and healthcare.
For more information, please visit: www.bdccapital.ca or follow us on Twitter at @BDC_Capital.
About Celtic House Venture Partners
Since 1994, Celtic House Venture Partners has been one of Canada’s most active investors in technology and innovation. Capitalizing on its deep domain expertise, Celtic House has collaborated with management teams and repeat entrepreneurs to develop technology companies from the inception phase through to exit, generating over 25 initial public offerings and successful acquisitions. Celtic House currently manages in excess of $425 million across three funds. For more information, visit www.celtic-house.com.
To learn more, please contact:
info at corsa.com