Rockport Networks, an Ottawa-based switchless network provider, completed a financing round totalling $48 million USD to close out 2021 — alongside appointing industry executive Marc Sultzbaugh as co-CEO.
Rockport expects this investment — led by Northern Private Capital and current investors — to speed up its go-to-market plan and expand its sales and marketing efforts. The financing round comes soon after the company announced the commercial expansion of its new switchless network system, which it says delivers the scalability necessary for performance-intensive computing and greater storage workloads.
Sultzbaugh is also expected to make a significant impact on Rockport’s product delivery. After more than 30 years in the semiconductor industry and 20 years at Mellanox, a multinational supplier of networking products, Sultzbaugh will be responsible for the company’s technology and product management, marketing, sales, manufacturing and customer relationships.
“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 founder and co-CEO Doug 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.”