Tuesday, September 25, 2007

Woven Systems Adds $20M

Santa Clara-based Woven Systems, a developer of 10 Gigabit Ethernet switches, said today that it has raised an additional $20M in capital as part of a Series B investment round. the funding was led by MDV-Mohr Davidow Ventures, and also included prior investors Goldman Sachs and Palomar Ventures. Jonathan Feiber of MDV will join the company's board as part of the funding. Woven said the new capital will go towards expanding its sales and go-to-market initiatives. The funding brings Woven Systems' total raised to $35M. More information »