Business: A semiconductor that uses system-on-a-chip architecture, which uses InfiniBand (short for infinite bandwidth), helps make servers and other Internet infrastructure equipment more scalable and reliable. Based on a packet-based switching technology, InfiniBand is designed to significantly reduce Internet congestion and ensure more reliable data transport over the World Wide Web.
Founded: January 1999
Headquarters: Austin, Texas
VC Raised to date: $44 million
VC Raised one year ago: $35 million
Investors: Austin Ventures, Crossroad Systems, Infinity Capital, Intel Capital, JatoTech Management, QLogic Corporation, Trinity Ventures
Plans one year ago: Banderacom was expecting to do another round of financing in the second quarter of 2002 and was expecting to see revenue shortly after.
The $35 million that was raised was expected to be dedicated to bolstering its research and development activities, as well as finishing its first product and developing several others. It also planned to add marketing and sales employees to its 70-person payroll.
Status: Banderacom has yet to return to the private equity market for another infusion. With the help of the new sales and marketing team, Banderacom is readying to ship InfiniBand-enabled computers in the second half of 2003.