RNA Networks nails $7 million |
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RNA Networks nails $7 million
Clive Cook
Menlo Ventures has led a $7 million first round funding in RNA networks, a Portland startup developing what it dubs "memory virtualization software." The company -- targeting the financial services, life sciences and oil and gas industries -- says its software uses existing computer hardware to help organizations better utilize resources at data centers.
"Memory virtualization picks up where server and storage virtualization fall short," said CEO of RNA Networks Clive Cook in a statement. Cook previously worked at VeriLAN, Elematics, Nortel Networks and Mercer Management Consulting.
RNA is targeting its products to the financial services industry, helping organizations more quickly conduct trades. The company says that its RNAmessenger has the "lowest latency and highest throughput for electronic trading applications." It also has potential applications for data-intensive industries such as oil and gas; media and entertainment and bioinformatics.
The company's previous investors include Oregon Angel Fund, Divergent Ventures and Reference Capital. It employs 25 people.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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