By Kelly J. O’Brien
Burlington-based 128 Technology Inc., a startup trying to build a next generation of networking infrastructure based on software rather than hardware, has raised $21.5 million in a Series C round of funding.
The money comes from Boston-based G20 Ventures, as well as angel investors and current 128 Technology executives and employees. Andy Ory, the co-founder and CEO of 128 Technology, is a member of G20 Ventures’ core group of 20 seasoned entrepreneurs that help other founders of startups that G20 has invested in.
Ory previously had co-founded Acme Packet, which he took public in 2006 and sold to Oracle in 2013 for $2.1 billion. In 2014, Ory and his Acme Packet co-founder Patrick Melampy, along with a number of other Acme Packet alumni, quietly started 128 Technology. The startup publicly launched in 2016 with a mission to ” fix the internet.“
In March, 128 Technology went public with the name of its first customer, secure-communications provider Revation Systems of Minnesota. Ory said at the time that the company has several other customers and about two dozen potential customers running trials. He also said the market opportunity ahead of 128 Technology could be “20 times the size” of the market served by Acme Packet.
128 Technology currently employs about 100 people and lists five job openings in its 26,700-square-foot Burlington headquarters. The company has previously raised $36 million from employees and G20 Ventures. G20, founded by two partners from Boston-based Advanced Technology Ventures, recently set out to raise $63.5 million for its second investment fund.
Kelly O’Brien is a Technology Reporter at Boston Business Journal.
The original article can be found here.