That same logic would seem to apply for Microsoft wanting to invest. Perhaps MSFT had a chance, but they didn't like the valuation at all. If you read "High St

That same logic would seem to apply for Microsoft wanting to invest. Perhaps MSFT had a chance, but they didn't like the valuation at all. If you read "High Stakes, No Prisoners" (a book that both founders of Xobni recommend), the author recommends getting non-VC Series B investors so that you don't have the same genetic pool (i.e. Series A VCs colluding with Series B). I think the more likely scenario is that this Series B is strategic for Cisco, wonder what they're cooking up.