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Stealthy startup Plexxi Inc. continues to attract big money, landing $20 million in a new funding round for the New Hampshire company that is still silent about what it is working on.
In a filing with the U.S. Securities and Exchange Commission, Nashua-based Plexxi listed five participants in the round. According to a company blog, the round was led by Lightspeed Venture Partners, which was joined by Matrix Partners and Northbridge Venture Partners. The SEC filing lists North Bridge general partner James Goldstein and Matrix general partner Tim Barrows as related persons, along with co-founder and CEO David Husak.
Husak is a network industry veteran, going back to Apollo Computer Inc., with stints at 3Com Corp., which acquired his first startup Synernetics Inc. in 1994, and his second startup C-Port Corp., which was acquired by Motorola in 2000 for $430 million. Most recently he co-founded RFID technology company Reva Systems Inc., which itself was stealthily sold in December to Virginia-based Odin Technologies Inc. for an undisclosed amount in a cash and stock deal.
In February, Plexxi raised $8.3 million of a planned $8.5 million initial fundraise. At that time, Husak declined to speak about the company, but he did say that it is not focused on an RFID product. In the blog post announcing the new funding, the company said that it would “begin sharing our thoughts here about the problems faced in building state-of-the-art enterprise and cloud datacenter networks with 20th-century networking technology; and the nature, features and functions of a better solution.”
The other co-founder of Plexxi is vice president of engineering Ephraim Dobbins, another network industry vet who most recently spent six years as vice president of engineering at Acme Packet Inc.
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