Thursday, March 27, 2008

Solera Raises $5M

Solera Networks, a developer of network-traffic analysis technology, announced Thursday that it has raised a second round of venture financing, raising $5 million. Solera said Canopy Ventures led the effort, noting that Canopy had also led its Series A round. Solera said it plans to use the funds to accelerate product development and to support sales and marketing efforts. The Lindon, Utah-based business also reported that it has made three changes to its executive staff. Solera said it has hired James Brown as chief operating officer and chief financial officer, promoted Paal Tveit to vice president of engineering, and named Fumiya Minagawa president of Solera Networks Japan.