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Cloud networking startup Pertino raises $20m in investment

Pertino, a cloud-based networking startup, has raised $20 million (£13 million) in a round of series B funding led by Palo Alto, California-based Jafco Ventures with contributions from Lightspeed Venture Partners and Norwest Venture Partners.

The company plans to spend the sum on expanding its low-cost cloud based networking to small and mid-sized businesses.

Petrino's cloud-based networking services, in limited availability for almost a month now, places traditional wide area network (WAN) infrastructures into the cloud using multiple cloud services such as Amazon Web Service (AWS), Linode and Rackspace.

Targeted primarily at SMBs, the service enables business to go online and create secure networks without having to invest a fortune on expensive networking hardware. These cloud-based networks are available for use by up to three users with three unique devices each, and cost just $10 (£6.5) per user per month.

"We have shown that this works. Now we are ready to roll things out on the sales and marketing side," CEO Craig Elliott told BizJournals.

Pertino currently has a workforce of 35 employees, but Elliott expects that the figure will double by the fall of 2013.