RIFT.io raises $16 million to develop networking software

View Original Article


 

The newest Boston company on the network services scene has raised $16 millionin its Series A funding round.

Rift.io is developing a software package called RIFT.ware that is meant to help modernize datacenter operations. According to its website, the software is available through an early access program, but a company spokesman said RIFT.ware would be on the market by the end of this year.

Rift.io, which has offices in California and India, said it would use the money to hire more people and expand its marketing and customer support efforts. The new investment was led by North Bridge Venture Partners, a Waltham venture capital firm, along with other undisclosed strategic investors.

Rift.io is led by chief executive Greg Alden, who spent seven years as a manager at Cisco before working at three smaller companies, including Starent Networks, a Tewksbury-based telecom infrastructure company that was bought by Cisco in 2009 for $3 billion, and Westford-based Movik Networks.