Mellanox Technologies Secures $56M in New Funding
SANTA CLARA, Calif. & YOKNEAM, Israel--(BUSINESS WIRE)--Feb. 11, 2002-- Bessemer Venture Partners Leads Financial and Corporate Investors including Dell Computer Corp. and Sun Microsystems, Inc. in Funding InfiniBand Semiconductor Supplier's Third Round.
Mellanox Technologies, Ltd., the leading provider of InfiniBand(SM) silicon, announced today it has secured $56 million in its third round of funding. The round, led by Bessemer Venture Partners, includes both existing and new corporate and financial investors. In addition to Bessemer, new investors participating in the round include: Banc of America Securities, China Development Investment Bank, Dell Computer Corp, Gemini Israel Funds, Jerusalem Global Ventures, JNI Corporation, Quanta Computers, Sun Microsystems Inc., Walden Israel Venture Capital and additional corporate and private investors. Previous investors also participating in this round of funding include Intel Capital, Raza Venture Management, Sequoia Capital, US Venture Partners and Vitesse Semiconductor.
Mellanox* is pleased to welcome Rob S. Chandra, from Bessemer Venture Partners, as the newest member of the board of directors, joining Irwin Federman (US Venture Partners), Pierre Lamond (Sequoia Capital), Atiq Raza (Raza Venture Management), and Eyal Waldman (Mellanox).
"We are pleased that Mellanox has garnered such strong funding support that will allow us to continue to play a key role in the growing InfiniBand market," said Eyal Waldman, chairman and CEO of Mellanox Technologies, LTD. "To date Mellanox has shipped InfiniBridge(TM) and InfiniScale(TM) silicon and reference platforms to about 70 companies. These include Fortune 500 companies and top tier OEMs in the server, storage and communication markets. A number of these customers are moving into production today and we expect them to ramp to high volume quantities in the second half of 2002 and in 2003."
The closing of this round of funding brings the total investments in Mellanox to more than $89 million. Mellanox will use these funds to help develop future generations of 10Gb/sec and 30 Gb/sec InfiniBand technology product lines, including the next generation of InfiniBand Blade reference designs, based on a fully redundant InfiniBand 4X (10Gb/s) backplane that supports server, switch, and I/O blades in a single chassis. Such platforms facilitate the development and accelerate the time to market of OEM products based on this reference design. Mellanox's advanced semiconductors and reference designs are enabling the development of server, switching and storage equipment for a unified InfiniBand data center. The InfiniBand architecture offers performance, price, power, density, availability and manageability benefits to IT managers.
"The market for enterprise clustering, communication and storage equipment in the data center is approaching a key inflection point, through InfiniBand, that will offer tremendous new management and total cost of ownership benefits for IT managers," said Rob Chandra, of Bessemer Venture Partners. "Even during tough economic conditions, enterprises will continue to adopt cost-effective technologies like InfiniBand, which offer significant performance, ease of management and reliability benefits. Mellanox's technology leadership position and their relationships with leading system vendors made Mellanox our choice for investments in this arena."
"Dell believes InfiniBand will be a key technology in the future of industry standard servers, which is why we have supported the InfiniBand architecture since its inception," said Randy Groves, vice president of the Enterprise Systems Group for Dell. "To that end, investments in companies like Mellanox help to ensure a rapid deployment of InfiniBand into future modular servers."
"As one of the founding members of the InfiniBand Trade Association, Sun recognizes the growing importance of InfiniBand in future server and storage systems architectures," said Brian Sutphin, vice president of Strategic Investments, Sun Microsystems. "We are pleased to support Mellanox Technologies' role in driving the development and evolution of advanced, InfiniBand silicon technologies."
"With industry experts such as IDC and Meta Group predicting more than 7 million InfiniBand server ports by 2005, this is a great technology with a bright and prosperous future," said Neal Waddington, president and CEO of JNI Corporation. "JNI is producing a range of InfiniBand HCA products to fuel this market, based on Mellanox's industry leading silicon."
Mellanox is the leading supplier of InfiniBand semiconductors, providing switches, Host Channel Adapters, and Target Channel Adapters to the server, communications and data storage markets. In January 2001, Mellanox Technologies delivered the InfiniBridge MT21108, the first 1X/4X InfiniBand device to market, and is now shipping second-generation InfiniScale silicon. The company has raised more than $89 million to date and has strong corporate and venture backing from Bessemer Venture Partners, Dell Computer, Intel Capital, Raza Venture Management, Sequoia Capital, Sun Microsystems, US Venture Partners, Vitesse and others. In May 2001, Mellanox was selected by the Red Herring Magazine as one of the 50 most important private companies in the world and to Computerworld Magazine Top 100 Emerging Companies for 2002. Mellanox currently has more than 200 employees in multiple sites worldwide. The company's business operations, sales, marketing and customer support are headquartered in Santa Clara, CA; with the design, engineering, software, system validation, and quality and reliability operations based in Israel.
CONTACT:Media Contact: Wilson McHenry Company Chip Dehnert, 415/227-1207 or Business Contact: Mellanox Technologies, Inc. Kevin Deierling, 408/970-3400 x302