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Peribit raises $20.5 million

Peribit Networks plans to announce Tuesday that it has raised a $20.5 million third round of funding, led by Mayfield. Previous investors Accel Partners and Foundation Capital also participated in the round. Santa Clara, Calif.-based Peribit has raised a total of $31 million. The company develops products to increase bandwidth capacity for wide-area networks by eliminating repetitive data.

Peribit Networks plans to announce Tuesday that it has raised a $20.5 million third round of funding, led by Mayfield. Previous investors Accel Partners and Foundation Capital also participated in the round. Santa Clara, Calif.-based Peribit has raised a total of $31 million. The company develops products to increase bandwidth capacity for wide-area networks by eliminating repetitive data.