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Akanda Secures Seed Funding for Open Source Network Virtualization Project

Akanda, the only open source network virtualization solution built for OpenStack environments, today announced it has secured seed funding led by New Dream Network (parent company of DreamHost), with co-investors The Fabric, Double M Partners, Rincon Venture Partners, Simon Anderson (CEO of DreamHost) and Matt Ocko. The funding will enable Akanda to scale out the technical team, accelerate platform development, and support production implementations of Akanda by cloud service providers and enterprises standing up OpenStack clouds.

“Akanda’s sophisticated open source management and orchestration platform is addressing a real need in the market to improve OpenStack networking,” said Rajan Raghavan, CEO of The Fabric. “The Fabric is a company co-creator. We take a unique approach to inspiring, incubating and investing in next generation innovative technology companies. We invest in great teams with real-world technologies, helping to build successful companies who are engaged in creating a new, flexible and efficient architecture in the networking space.”

Launched in November 2014, Akanda is revolutionizing the network virtualization industry, delivering the first open source production-ready L2 agnostic platform for network virtualization. Akanda’s open source platform eliminates the need for complex SDN controllers, overlays and multiple plugins for cloud networking by providing a simple integrated networking stack that manages routing, firewall and load balancing in secure multi-tenant OpenStack environments.

“In the past five months, Akanda has experienced a significant increase in interest and demand,” said Henrik Rosendahl, CEO of Akanda. “Closing our latest funding round, we could not be more thrilled to partner with both new investors and founders who share our vision for future growth. Together we will look forward to continuously delivering a solution that meets the networking needs of OpenStack users.”

Published Monday, April 06, 2015 8:23 AM by David Marshall
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