By Gregory T. Huang
When you’ve founded and run a company like Acme Packet—acquired by Oracle for $2 billion-plus in 2013—raising venture capital is not a problem.
128 Technology, a stealthy startup led by Andy Ory and other Acme Packet veterans, has closed $20 million in a new round of equity financing, according to an SEC filing. By our count, the company has raised $32 million to date.
In addition to Ory and co-founder Patrick MeLampy, the filing lists Julio Vega, which is the name of a partner with law firm Morgan Lewis, and Bob Hower, co-founder of G20 Ventures.
Ory and company have been mum about what they’re building. But we can speculate that it’s an enterprise networking play based primarily around software. The new 128 Technology website says the company “is on a mission to fix the Internet.” According to the site, “networking can be much simpler, more elegant, and more intuitive while providing advanced security, reliability, and performance capabilities.”
Ory spoke last week at Xconomy’s Enterprise Tech Strikes Back conference, mostly about how to build a successful company and how to develop a more collaborative culture of entrepreneurship in New England.
“We’re very Yankee here—we don’t celebrate the entrepreneur,” Ory said at the event. But he also admitted, “I don’t want to be celebrated.”
Gregory T. Huang is Xconomy’s Deputy Editor, National IT Editor, and Editor of Xconomy Boston. E-mail him at gthuang [at] xconomy.com.
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