July 23, 2007
Plato Networks Closes $20M Series B Financing
Santa Clara, CA — July 23, 2007 — Plato Networks, Inc., a fabless semiconductor company specializing in communications IC's for the energy-efficient datacenter, today announced it has closed its second round of funding. The investment was led by Granite Ventures, who was joined by STIC International and founding investor Crosslink Capital. Plato Networks will use the US$20 million in new funding to accelerate development of its ultra low-power 10Gbps Ethernet products.
“Compute-power has skyrocketed in the eight years since 1Gbps Ethernet arrived, so there's big pent-up demand for faster I/O,” said Len Rand, of Granite Ventures. “Plato Networks' dramatic power improvements at 10Gbps will be the key to unlocking this market.”
“Analog design at deep submicron nodes is a key requirement for this class of products, and not many can pull it off,” said Steven Lee of STIC International. “Plato Networks will be in stealth mode a while longer, but we think they're ultimately going to surprise a lot of people.”
“We are delighted to have Granite Ventures and STIC International join the Plato team. Both firms have deep and relevant experience, and together with founding investor Crosslink Capital give us a financially strong and committed investor group,” said Plato Networks CEO, Joel Dedrick.
About Plato Networks
Founded in 2004, Plato Networks, is a fabless semiconductor company dedicated to networking products for the datacenter. Plato's unique synergy of patented analog techniques with powerful DSP will lead the way to new levels of power efficiency in the datacenter of the future.
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Contact Info:
Joel H. Dedrick
President and CEO
Plato Networks, Inc.
(408) 988-2600 x645
e:pr@platonetworks.com
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