A Series A round of funding, led by Delta Partners, closed at $2 million for Davra Networks. The investment round was conducted by the leading vendor of the "Internet of Everything" for purposes of funding the further development of the "Internet of Everything" platform as well as to expand the reach of its global operations.
According to Davra Networks CEO Paul Glynn, "Right now only 1% of the world's devices are connected to the internet. The Internet of Everything will drive this connectivity to the other 99% and is expected to create a $14 trillion market opportunity in doing so". Glynn felt excited about the "groundbreaking platform, which has been built to scale to tens of millions of devices, our strategic relationship with Cisco the market leader in Networking and having the best engineering team on the planet". Furthermore, he was looking forward to expanding the company's team asap.
Coincidentally, the former Senior Vice President at Cisco Systems, Barry O'Sullivan, joined Davra's board. O'Sullivan, who has worked with several multi-billion dollar divisions in his former employer, would help define Davra's stategy.
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