Jafco joins Norwest, Lightspeed for $20m Pertino financing


cloud-and-sunJafco Ventures is the latest early-stage investor to back cloud networking company Pertino after leading a $20m financing round.

The Series B financing comes just under a year after Norwest Venture Partners and Lightspeed Venture Partners backed Pertino’s $8.85m Series A round.

Both firms returned to take part in the latest funding round, Pertino said.

The company said a successful limited availability launch last month had “generated significant customer momentum”, and added it planned to use the new funding to continue preparing its product for the market.

Jafco general partner Jeb Miller said, “One of the things that attracted us to Pertino is the fact they have built a cloud-based solution leveraging the most innovative and disruptive technology to hit networking in a decade – SDN, and they’re delivering it in a practical and consumable way to an underserved global market.

“Disruptive technology and a massive global market opportunity, coupled with the pedigree and experience of the executive team makes Pertino an ideal portfolio company for us.”

Last month Bain Capital Ventures led a $10m Series C financing round for software and networking company BTI Systems alongside existing investors BDC, Covington Capital and GrowthWorks.

The company recorded 40 per cent compound annual growth rate during the past six years and has raised more than $33m since the first quarter of 2011.

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