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NextIO Raises $18.8M

Austin-based NextIO said today that the firm has raised $18.8M in a Series C funding round, for the firm's I/O virtualization products for the enterprise computing market. The funding came from Adams Capital Management and Crescendo Ventures, along with other inside investors and two strategic investors. According to the firm, the funding will go towards expanding its development team and sales channels. NextIO is developing PCI Express-based systems for blade and rack servers used for shared I/O. NextIO is also backed by VentureTech Alliance (TSMC), JK&B Capital and Dell.