This is the abridged version from our original article in Japanese.
Midokura Holdings Ltd., the company offering a software network virtualization technology, announced today that it has fundraised $20 million in a series B round. This round was led by Innovation Network Corporation of Japan (INCJ for Short) with participation from Simplex and Allen Miner. Simplex provides major Japanese banks with dealing systems while Allen Miner is chairman of Japanese VC firm Sunbridge Global Ventures who is also formerly Oracle Japan CEO. With the funding this time, the company has raised $44 million in total to date.
Midokura has not disclosed any financial details including valuation, shareholdings ratio and payment date upon fundraising. But the company claims that they will enhance development of Midokura Enterprise MidoNet (MEM) and new product line-ups as well as empowering their management and development teams.
Since its launch back in 2010, the company’s been led by Tatsuya Kato, chairman of the board and co-founder, who is a veteran entrepreneur also renowned for having served Japanese investment fund Globis as COO. Prior to launching Midokura, he was involved in managing notable Japanese IT companies such as Cybird (TSE:4823) and CSK Holdings (TSE:9737).
Headquartered in Lausanne, Switzerland, Midokura runs its business operations at six different locations worldwide, though substantial headquarter operations is found in Tokyo. According to Kato who is based out of Tokyo, their system development team is based out of Barcelona, Spain while the San Francisco team is in charge of marketing operations.
The company has been developing MEM, a software network virtualization technology which replaces hardware network devices with a series of software, enabling service providers to reduce installation and maintenance costs for network environment.
Translated by Masaru Ikeda
Edited by “Tex” Pomeroy