Funding daily: It’s an “Affinity-Driven Network”, stupid

Funding news was rather slow today, but then again, it’s the end of the week. And no one wants to release major news with Google is stealing all the spotlight at this week at its Google I/O conference. However, here are a few (and I do mean a few) deals that caught our eye.

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Plexxi raises $20.1 million to build hard-to-understand-but-seemingly-useful network solution 

Plexxi, a startup that builds software-defined networks, announced the close of a $20.1 million third funding round. Plexxi’s technology combines software and hardware in what the company calls “Affinity-Driven Networking”. When asked to describe the product in plain English, unfortunately, the company wasn’t much clearer: “Plexxi offers the first and only affinity-driven networking solution, specifically built for the fluid and dynamic nature of today’s data center computing needs.”

What that means is that the product facilitates data flow through networks, making them run smoother and faster. The financing was led by existing investors, Lightspeed Venture Partners, Matrix Partners, and Northbridge Venture Partners, reaching $48.48 in total. Read more on Plexxi’s blog, if you brain feels up for it.

Zao’s $1.3 million supports lackluster HR reps everywhere

Employee referral startup Zao secured $1.3 million in its first round of funding, led by non-institutional venture capitalist Oren Zeev. Zao is a platform that helps companies fill job openings with quality referrals. The service enables companies to publicize job openings, set rewards, and forward postings to their social networks. It also makes it easier for referrers (say that three times fast) to search their social networks for qualified candidates. Additionally, Zao offers tracking and organizational tools to help manage potential hires. Read the press release.

Summit Partners gains majority stake in 360T’s online trading platform

360T, provider of web-based trading technology, today announced the final closing of a growth equity investment made by Summit Partners. 360T offers a trading platform that is independent of banks and has more than 100 global and regional clients. With this deal, Summit Partners has acquired a major stake in 360T from various shareholders. Read the press release.