A10 Networks Secures $23 Million in Series C Funding
July 14, 2008
Demonstrates Corporate Growth through Product Milestones and Headquarters Expansion
SAN JOSE, Calif., July 14 /PRNewswire/ — A10 Networks(R), the
technology leader in providing Web Application Delivery solutions, today
announced the completion of $23 million in Series C funding led by Mitsui &
Co. Ltd. The new financing brings A10’s total funding to $39 million.
Existing investors Mitsui, Triton Ventures, H&Q/Asian Pacific, Harbinger
Venture and Enspire Capital contributed 89 percent of the C funding. This
demonstrates a high level of existing investors’ confidence in A10. CIDC is
the only new investor.
A10 will use the proceeds to fund continued growth to rapidly scale its
operations worldwide, including acceleration of global expansion and
product development. Since the beginning of 2008, A10 has won over 100 new
customers for its AX Series Advanced Traffic Manager family, which are
next-generation server load balancers, EX Series bandwidth management
appliances with identity and ID Series network identity management
appliances.
“Mitsui has been distributing A10 products in Japan for almost 2 years
now, and has seen extremely positive results with great market potential.
With our investment in the Series C round, A10 and Mitsui forge a long-term
strategic partnership in addition to Mitsui being the Exclusive Distributor
of A10 products for Japan,” said Masaki Saito, General Manager, IT
Outsourcing Business Division of Mitsui & Co. Ltd.
A10 Networks’ Series C funding comes amid several recent corporate and
product milestones, including:
— July 2008: A10 doubles its headquarters space in San Jose, CA to
accommodate the growth of R&D and Customer Support.
— June 2008: AX Series next-generation server load balancer wins Grand
Prix/Best of Interop Tokyo in the best Carrier/ISP category for its
comprehensive high-performance IPv6 solutions. AX Series also won Best of
Interop Las Vegas and Best of Interop Tokyo 2007.
— January 2008: AX Series is the industry’s first to achieve over 1.5
million Layer 7 transactions per second and was confirmed to deliver more
than twice the performance at half the price of the market leading
competitor (see January 2008 Tolly Report).
“The C funding round will enable A10 to reach profitability and expand
rapidly over the next 18 months,” said Lee Chen, Founder and CEO of A10
Networks. “Strong partners and investors such as Mitsui provide us with
long- term stability and I look forward to a win-win opportunity with our
investors and shareholders. A10’s focus now is on ensuring we deliver
exceptional customer service and value, which will ultimately result in
increased shareholder value.”
About A10 Networks
A10 Networks was founded in Q4 2004 with a mission to provide
innovative networking and security solutions. A10 Networks makes
high-performance products that help organizations accelerate, optimize and
secure their applications. A10 Networks is headquartered in Silicon Valley
with offices in the United States, Japan, China, Korea and Taiwan. For more
information, visit http://www.a10networks.com
# http://www.a10networks.com/
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