Cumulus Networks, a US-based data centre software developer backed by telecommunications firm Telstra, agreed to an acquisition by graphics processing unit producer Nvidia on Monday.
Terms of the deal have not been disclosed, but TechCrunch noted the amount was likely “considerable” given Cumulus’ previous total equity financing of at least $129m.
Founded in 2010, Cumulus Networks has created an operating system for network switches enabling the design, running and operation of networking infrastructure. The software is scalable and extendable.
Cumulus’ technology will complement that of another recent Nvidia acquisition, networking switches producer Mellanox, which had already been collaborating with the former since 2016. Together, the businesses will allow Nvidia to market both networking hardware and software.
Cumulus has disclosed at least $129m in total funding, though TechCrunch put the figure at $134m.
Telstra Ventures, the corporate venture capital division of Telstra, led a $43m series D round in 2018, with participation from existing backers that included Andreessen Horowitz, Battery Ventures and Sequoia Capital.
Andreessen Horowitz, Battery Ventures, Sequoia, Wing VC, SV Angel and Top Tier Capital supplied $35m in series C capital 2016. Sequoia previously led a $36m series B round in 2014.
Cumulus had emerged from stealth in 2013 with more than $15m in funding from Andreessen Horowitz, Battery Ventures and assorted angel investors.
The company had revealed $1.8m in seed funding from backers including Battery Ventures in 2012, but it is unclear whether that amount was included in the $15m figure announced the following year.
