Vyatta Secures $7.5 Million in Series A Funding; Investment Fuels Company Growth and Development of Open Source Networking Solutions.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif. -- Vyatta today announced it has secured $7.5 million in first round financing from JPMorgan Partners (advised in the financing by Panorama Capital), ComVentures, and ArrowPath Venture Partners. Vyatta recently introduced the Open Flexible Router router Portable electric power tool used in carpentry and furniture making that consists of an electric motor, a base, two handle knobs, and bits (cutting tools). A router can cut fancy edges for shelving, grooves for storm windows and weather stripping, circles and ovals (OFR Ofr Oberfranken (German) OFR Operating and Financial Review OFR Office of the Federal Register (US NARA) OFr Old French (linguistics) OFR Optics for Research ), a flexible, cost-effective, and secure alternative to the incumbent, closed-source solutions that dominate the market today. Investment proceeds will be used to further support product development, sales, and marketing activities. "Open source has the opportunity to make a large and lasting impact on the multibillion-dollar network products industry by bringing flexibility and choice to a market that has been closed and slow to change," said Kelly Herrell, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Vyatta. "The phenomenal response to our Open Flexible Router has demonstrated that customers are hungry for an alternative and they are excited about the increased flexibility and cost savings that comes with an open solution." Vyatta was created to bring commercial-quality open-source networking products to market. The company is staffed by industry veterans, serial entrepreneurs Serial entrepreneur Business person that successfully starts (does not kill) a number of different businesses. , and some of the brightest minds in the open source and networking industries who share a passion for flexible, low-cost networking products that allow users to create highly-reliable infrastructure. Introduced in July 2006, Vyatta's open router platform, the OFR, is freely downloadable from the Vyatta web site, with support and maintenance available on a subscription basis. The Vyatta Community, a public forum for Vyatta users and developers, features tools, discussions, blogs, and newsfeeds, and provides an interactive resource for getting started with the OFR. For more information on Vyatta or to join the Vyatta community, please visit www.vyatta.com. "Vyatta is helping to define the next era in networking -- one that is characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by reliable, open, flexible, and cost-effective solutions. Customers have embraced open source networking, and the OFR has gained traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. in the market, validating val·i·date tr.v. val·i·dat·ed, val·i·dat·ing, val·i·dates 1. To declare or make legally valid. 2. To mark with an indication of official sanction. 3. the Vyatta business model," said Allan Leinwand, Vyatta founder and venture partner with Panorama Capital. "With this investment, we are teaming with like-minded venture firms that provide us with growth capital, as well as invaluable expertise as we continue to grow Vyatta." About Vyatta "Vyatta" is the ancient Sanskrit word meaning "open" -- a fitting name for a company that was created to bring commercial-quality, open-source networking products to market. Open source has created a profound change in the market place, shifting the balance of power from large corporations back to the users of products. Open source is about cost savings, increased flexibility and choice, and better security. Vyatta is bringing those qualities to the world of network infrastructure products. For more information, please visit www.vyatta.com. |
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