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RLX Technologies Closes $40 Million Funding
Date: Wednesday February 21, 2001
Category: Web News
Manufacturer Link: RLX Discus -- BBS
"This highly-respected team of investors recognizes RLX's vision and focus on dense, highly efficient server platforms."
 

RLX Technologies Closes $40 Million in New Funding; To Develop & Build a New Class of High Density, Low Power Web Servers

    HOUSTON--Feb. 21, 2001--

Soros Private Equity Partners Takes Lead in Series B, Joined by IBM and Ignition Corporation

    Taking a major step in its goal to Redefine Server Economics, RLX Technologies today announced that it has closed a $40 million Series B round of financing led by investment affiliates of Soros Private Equity Partners LLC. Additional Series B investors include IBM, Ignition Corporation, Sternhill Partners and ComVentures. Soros, IBM and Ignition are new investors in RLX Technologies. ComVentures and Sternhill Partners both participated in the Series A round.
    The company also announced that Soros Partner Chris Michalik will be appointed to the RLX board.
    "In the current funding environment, today's announcement is an important validation of our strategy, our technology and our management team," said Gary Stimac, CEO, RLX Technologies. "This highly-respected team of investors recognizes RLX's vision and focus on dense, highly efficient server platforms."
    "The RLX high density, low power solution could not be more timely given the physical and economic barriers to growth that Internet Data Centers face with current server technologies," said Chris Michalik, partner, Soros Private Equity Partners. "And the RLX management team has an outstanding record of driving new, disruptive technologies into the marketplace." ΒΆ The Series B round brings total RLX funding to $59 million. Prior funding efforts have brought in $19 million from the management team, VC investment firms and angel investors.
    The Company's first new server platform, code-named "Razor," will ship to customers in the first half of 2001.

    About Soros

    Soros Private Equity Partners LLC, an investment affiliate of Soros Fund Management LLC, is responsible for making direct equity investments on behalf of Soros Private Equity Investors LP. Soros Fund Management is the well-known investment advisory firm founded by George Soros.

    About Ignition

    Ignition Corporation, headquartered in Bellevue, Wash., is a premier venture capital firm dedicated to creating powerful partnerships that bring together software, wireless, communications and the Internet. Founded by former Microsoft and McCaw Cellular Communication senior executives, Ignition's partners and principals all have operational leadership experience in the software, Internet, communications and wireless industries. Qualcomm, Softbank Venture Capital and Madrona Venture Group are prominent investors and strategic partners. For more information please visit www.ignitioncorp.com.

    About ComVentures

    ComVentures is a venture capital firm whose partners all have hands-on experience in the communications industry. ComVentures has consistently uncovered ground-breaking communications technologies, helped lead and grow its portfolio companies, and assisted these companies in deploying new technologies in an ever-changing marketplace. The firm invests exclusively in early-stage communications and Internet companies. For more information please visit www.comventures.com.

    About IBM

    IBM is the world's number one server company and information technology provider, with 80 years of leadership in helping businesses innovate. IBM helps customers, business partners and developers in a wide range of industries that leverage the power of the Internet for e-business. For more information, visit www.ibm.com.

    About Sternhill Partners

    Headquartered in Houston, Texas, Sternhill Partners provides venture capital funding to technology start-ups in Texas, the Southwest and the West Coast. The Sternhill team leverages its experience in product development, strategy, marketing, sales and finance with industry leaders like Compaq Computer Corporation, McKinsey & Co., and Coopers & Lybrand to provide insightful business analysis to its portfolio companies. With more than $100 million under management, Sternhill provides top-notch entrepreneurs a venture partner that offers knowledge, experience, contacts and capital to develop a successful business in today's technology marketplace. For additional information about Sternhill Partners, visit www.sternhillpartners.com.

    About RLX Technologies Inc.

    Headquartered in the Woodlands, Texas, RLX Technologies, Inc. is developing a new class of server products using the Transmeta Crusoe processor that will dramatically recast the dynamics of the server marketplace. The technology advances of Razor's unique patented design and engineering features break new ground in addressing the economic challenges faced by Internet Data Center customers, including: space, power consumption, heat, reliability, deployment time and capital utilization. For information about RLX Technologies, check out our Web site at www.rlxtechnologies.com.

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   08 / 23 / 2019 | 8:23PM
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