IP Fabrics Completes Second Half of $6 Million Series A Financing
Beaverton, OR – January 28, 2005 - IP Fabrics, Inc., developer of a radically different approach for creating software for network processor chips, has extended its Series A venture-capital financing started last year, for a total amount raised of slightly over $6 million. Investors in IP Fabrics are Ignition Partners, Intel Capital, Frazier Technology Ventures, and Northwest Venture Associates.
“Network processor chips are becoming the core building blocks of networking equipment as traffic loads, security concerns, and needs for new functions outstrip the capabilities of current solutions,” commented Glen Myers, CEO. “Yet, the high degree of complexity of network processors has required extraordinary expertise, time, and cost in order to program them, and this has impeded their adoption rate. Our software removes this barrier by ‘virtualizing’ the network processor. Moreover, in addition to hiding the details and complexity of the chip, our software provides powerful functions to the system designer, such as high-speed pattern searching and signature analysis, flow tracking, rate measurement, and encryption.”
Martin Tobias, a partner at Ignition and a board member of IP Fabrics, remarked “We believe that the network processor represents the next wave in building many types of networking equipment, and believe that the highly experienced team at IP Fabrics has a technology so innovative that they can achieve for networking equipment what we at Microsoft did for the IBM PC.”
IP Fabrics’ software currently runs on Intel’s IXP family of network processors. A pre-production version of IP Fabrics’ product is in evaluation use at several networking equipment companies, and it expects to ship its production-released version in January. The product is most advantageous when used in “deep packet processing” applications such as intrusion detection, voice-over-Internet, anti-spam, anti-virus, web filtering, content switching, Internet traffic management, and application-level cryptography.
About IP Fabrics
IP Fabrics, founded in 2002 and located in Beaverton, Oregon, empowers the new era of chips called network processors by breaking down the software barrier. The company is venture-capital financed via Ignition Partners, Intel Capital, Frazier Technology Ventures, and Northwest Venture Associates. IP Fabrics is a member of the Network Processing Forum, Intel Communications Alliance, and RadiSys Alliance Program.