Expand Networks Secures $21 Million in New Funding
Expand Networks, a leading provider of application acceleration solutions over the Wide Area Network (WAN) and recently positioned in the Gartner’s Leaders Quadrant for WAN Optimization Controllers 2006, recently announced that it has secured an additional $21-million in financing from Vertex Technology Fund, an Israeli-based venture capital firm with interests in the USA, UK, Japan, and Singapore, along with a boost of capital from existing investors.
WAN Optimization is rapidly growing across the corporate enterprises and many companies are including this technology as a line item in their budgets. The recent cash infusion from this round will be allocated to developing next-generation products and enhancing the company’s market leadership position, creating further awareness among the corporate enterprise and continued global expansion.
Along with Vertex, organizations participating in this round of financing include Discount Investments Corp, Tamir Fishman Ventures and the Challenge Fund. Other investors who have previously invested in Expand include: Time Warner, Comcast Interactive Capital, Federated Kaufman Fund, RBC Capital Markets and Robeco Investment Management.
Significant developments for Expand over the past year include an alliance with Huawei-3COM, new offices in China, the acquisition of DiskSites and entry into several other countries with offices and distribution agreements.
“As validated by several industry analysts, Expand Networks continues to be a market innovator adhering and consistently delivering to the stringent and growing requirements set by the enterprise market with its demanding networks,” said Elie Barr, President and CEO, Expand Networks. “The present investment shows investor confidence in this market, our focus and vision to deliver the best WAN optimization and acceleration products to companies worldwide.”
Expand Networks is the pioneer and leader in helping organizations simplify their IT infrastructure while delivering remote offices fast, reliable and secure access to networked applications. This results in improved user productivity and cost-effective IT management. Expand offers a multi-service integrated platform that ensures superior performance for any application over any network. From its headquarters in Roseland, NJ and its global locations, Expand Networks (www.expand.com) serves more than 1,450 enterprise customers including: American Express, Bacardi USA, BMW, Continental Airlines, Carr America, Colgate, Elizabeth Arden, Reed Exhibitions, Target and United States Department of Defense.
For more information, please visit www.expand.com