Return to search

NPC leads Rockport Networks’ $48m financing round

Ottawa-based switchless networking provider Rockport Networks has secured $48 million in financing to accelerate its go-to-market plan.

Ottawa-based switchless networking provider Rockport Networks has secured $48 million in financing to accelerate its go-to-market plan. The round was led by Northern Private Capital, with participation from existing investors. Rockport also announced the appointment of network industry executive Marc Sultzbaugh as the company’s co-CEO.

PRESS RELEASE

OTTAWA, Ontario–(BUSINESS WIRE)–Rockport Networks today announced the appointment of network industry executive Marc Sultzbaugh to Co-CEO of the switchless network provider. With more than two decades of corporate leadership experience, he will join Rockport Co-Founder and Co-CEO Doug Carwardine to lead the company. Sultzbaugh will be responsible for all aspects of Rockport’s growth including technology and product management, marketing, sales, manufacturing and customer relationships. He will remain an active member of the Rockport Board. Carwardine will continue to oversee research and development, people and culture and finance.

Sultzbaugh brings extensive technical and management experience to his new position, having worked in the semiconductor industry for more than 30 years. He spent 20 years as an executive at Mellanox where he was instrumental in leading the company from the launch of its first product, to a nearly $2B annual revenue run rate at the time of its acquisition by NVIDIA.

Also announced today, Rockport has completed a financing round totaling $48 million USD. The investment was led by Northern Private Capital with participation from current investors. This significant investment demonstrates confidence in Rockport’s technology and its ability to address growing demand for more sophisticated networks. The funding will accelerate its go-to-market plan and expand its sales and marketing efforts.

Rockport recently announced the general availability of its new switchless network architecture that delivers industry-leading performance and scalability necessary for performance-intensive compute and storage workloads supporting HPC, AI and ML. The Rockport Switchless Network offers a completely new design, using breakthrough software and data-routing techniques to overcome congestion.

“The switching network in today’s data centers is fundamentally broken. Customers can no longer efficiently and cost-effectively process today’s demanding workloads on yesterday’s architectures,” said Sultzbaugh. “We’re applying new thinking to the systemic issues of network congestion and performance that plague advanced computing workloads so that customers can expect more predictable network performance and much greater utilization of their compute and storage resources.”

The Rockport solution is now in use with multiple customers including Frontera, the number one academic supercomputer located at the University of Texas’ Advanced Computing Center, Austin.

“The network market is ripe for change and we’re experiencing tremendous momentum since the launch of our switchless network solution a few short weeks ago,” said Carwardine. “With the addition of Marc and this latest round of funding, we’re building an even deeper bench to work hand-in-hand with our customers and ecosystem partners to recalibrate how the market builds, deploys, and realizes a new class of network performance.”

For more information about Rockport’s Switchless Network solution, please visit: https://rockportnetworks.com/.

About Rockport Networks
Rockport Networks’ next-generation of high-performance networks unlocks the entire data center to produce more results, faster, and with better economics and environmental sustainability. Modeled after the world’s fastest supercomputers, the Rockport Switchless Network replaces centralized switch architectures with a distributed, high-performance direct interconnect that is self-discovering, self-configuring and self-healing, and that is simple and transparent to operate. By virtually eliminating congestion and latency, data center workloads can be completed significantly faster, enabling organizations to improve ROI and make critical decisions more quickly. Learn more at rockportnetworks.com and follow us on Twitter and LinkedIn.