RNA networks, a leader in memory virtualization software that transforms server memory into a shared network resource, today announced the launch of its company and $7M in Series A funding led by Menlo Ventures, the tier-one venture capital firm behind 3PAR, F5 Networks, Neterion and IronPort.

"RNA has a well thought out business model being executed by seasoned leadership that will establish the company as a leader in Enterprise IT," said Mark Siegel, Managing Director at Menlo Ventures. "RNA is the first mover in Memory Virtualization and is poised to lead enterprise data center transformation for the next decade."

Memory virtualization transparently enables high-performance computing in the enterprise from commodity hardware. RNA networks' software improves utilization of existing data center resources, and provides an alternative to data center investments aimed at addressing the limitations of memory availability. By leveraging existing hardware, RNA brings tremendous business benefits to the enterprise including cost savings through consolidation and increased utilization. Equally compelling are the increased top line results of the businesses that utilize memory virtualization. All of this is accomplished with no changes to the IT infrastructure.

"Memory virtualization picks up where server and storage virtualization fall short," said Clive Cook, CEO of RNA networks. "By introducing a transparent method of making memory a shared network resource, RNA is paving the way for many new architectural advances that will have a deep and lasting impact on both the near and long term future of enterprise IT."

RNA networks also announced a U.S.-based, global multi-billion dollar hedge fund as a first customer of its RNAmessenger product. RNAmessenger is targeted at high-volume, low latency messaging or any business critical environment that demands superior transaction processing. Algorithmic trading, content delivery and on-line gaming are arenas that gain immediate benefit.

"Unmatched by any alternatives, RNAmessenger delivered dramatic performance gains from our IT infrastructure and for our business," said the IT executive of the hedge fund. RNAmessenger is being used for the order execution process at the fund.