Innovium Secures $170M in New Funding to Accelerate Product and Customer Momentum Worldwide

Company Exceeds Unicorn Valuation as Deployments Ramp in Secular High-Growth Market

SAN JOSE, Calif.–(BUSINESS WIRE)–Innovium, Inc. a leading provider of high performance, innovative switching silicon solutions for Cloud and Edge data centers, announced $170 Million in additional equity funding today. This financing comprises of new investments from Premji Invest, DFJ Growth, funds and accounts managed by BlackRock, and multiple strategic investors, along with existing investors including Greylock, Capricorn, WRVI, Qualcomm Ventures, Redline, S-Cubed Capital and DAG. Innovium becomes the first network silicon company to achieve unicorn status.

This funding recognizes the traction Innovium is seeing in the market as a disruptive, data center network infrastructure company. Innovium delivers breakthrough network scalability, performance and insights to fuel the most modern applications in fast-growing Cloud and Edge data centers. The new capital delivers a multi-year runway while accelerating R&D innovation and expanding customer engagements with Innovium as a trusted long-term partner.

“We are delighted at the strong adoption at leading OEM, Cloud and ODM customers for our TERALYNX® family, which resulted in over 20% market share for 50G SerDes switch silicon in our first year of shipments. This additional funding, achieved despite ongoing macroeconomic uncertainty, validates our vision, execution and momentum in a multi-billion secular high-growth market,” said Rajiv Khemani, Co-founder and CEO of Innovium.

Innovium achieved several significant milestones during 1H 2020, including:

• Business
  • Revenue growth of over 5x in 1H 2020 vs 1H 2019
  • Achieved over 20% market share in 50G WW SerDes shipments and emerged as the only credible silicon diversity option [1]
  • Wins, deployments and trials at majority of top 25 Cloud customers in the world
  • Operations, sales and support expansion to ensure customer success world-wide
• Products
  • Continued volume production ramp of TERALYNX 7
  • Ramping TERALYNX 5 shipments for ToR, Edge & 5G customer designs
  • Introduced TERALYNX 8, the world’s highest performance and most advanced 25.6Tbps switch with 112G SerDes [2]
• Ecosystem & Partners
  • Industry support announcements from over 20 market leading companies across connectivity, silicon, network operating system (NOS) and customers [3]

“Data centers are expected to see secular long-term expansion from Cloud, 5G, AI and remote-work applications. Innovative TERALYNX switch silicon products from Innovium have already been adopted by world’s leading hyperscale Cloud providers and leading OEMs including Cisco. We are excited to partner with Innovium for its roadmap innovation and help accelerate go-to-market ramp up,” said TK Kurien, Managing Partner and Chief Investment Officer at Premji Invest.

“Developing highly robust switch silicon from the ground up and powering mission-critical networks at the world’s largest data center customers with a first product line is truly remarkable. The team at Innovium has successfully executed on their vision to provide breakthrough solutions with TERALYNX products,” said Sandesh Patnam, Partner at DFJ Growth. “We are excited to invest in Innovium as they continue to make strong progress in customer deployments and expand in a large, high-growth market.”

About Innovium

Innovium is a leading provider of high performance, innovative switching silicon solutions for Cloud and Edge data centers. Innovium’s TERALYNX family delivers software compatible products ranging from 1Tbps to 25.6Tbps with unmatched telemetry, low latency, programmability, and large buffers, and a feature rich architecture that scales to 51.2Tbps+. Innovium’s products have been selected and validated by market-leading OEM, Cloud, and ODM customers. The company is headquartered in Silicon Valley, California and is backed by leading venture capital firms including Greylock, WRVI, Capricorn, Premji Invest, BlackRock, DFJ Growth, DAG, Qualcomm Ventures, S-Cubed and Redline. For more information, please visit: http://www.innovium.com and follow us on Twitter and LinkedIn.

Innovium, TERALYNX is a trademark of Innovium, Inc. in the United States and/or other countries. All other trademarks are the property of their respective owners.

1: 650 Group Merchant Silicon in the Data Center Report, May 2020

2: See press release: Innovium Introduces TERALYNX^® 8, World’s Highest Performance Programmable Switch for Data Center Networks with 25.6 Tbps throughput and support for 112 Gbps SerDes I/O
3: See press release Innovium Receives Broad Industry Support for TERALYNX^® Based Solutions using the 25.6T TERALYNX 8 Switch as well as SONiC Network OS

Contacts

Amit Sanyal

asanyal@innovium.com