Feb, 2002 : NetOctave Closes Funding of $7.8 Million

📅 February 14, 2002 - NetOctave, Inc., a developer of securityprocessors and security accelerator boards for the SSL, IPsec, and IPStorage markets, has announced that it has secured a second round of equityfunding of $7.8 million. The round was led by Intersouth Partners andincludes investments by Intel Communications Fund, Kitty Hawk Capital, MCNC,North Carolina Enterprise Fund, L.P and Wakefield Group.

NetOctave's products employ chip architectures that offload securityprocessing, allowing OEM customers to deliver network equipment thatprovides line-rate performance for encrypted traffic. The company'senterprise equipment products-the NSP2000-SSL and NSP3000-IPsec Acceleratorboard Product Families-are currently shipping to customers. New securityprocessors for the OC-48 network equipment and IP Storage markets will bedelivered later this year.
"The Intel Communications Fund made this investment in NetOctave to helpfacilitate development of high-performance security components," said DougDavis, general manager of the Intel Network Processor Division. "We believethat intelligent network services, including security, will continue tobecome more important to a range of enterprise and service-providerequipment. NetOctave's products complement Intel's hardware and softwarebuilding blocks for programmable network services in network equipment."

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