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01/09/2007

Oversi Secures $6 Million in Round B Funding, Led by Carmel Ventures

Oversi, a pioneer in Peer-to-Peer (P2P) content delivery technology, announced recently that it closed a $6 million round of financing led by Carmel Ventures. Carmel is joined by existing investors – StageOne Ventures, Lab-One Innovations and TempoPark Fund which is advised by the German VC smac partners.

Avi Zeevi, Co-Founder and General Partner of Carmel Ventures, and a new Board Member of Oversi, said, “Oversi is an exciting company, offering tremendous potential in the rapidly-growing content delivery environment. With video aggressively changing the face of the Internet, P2P has become the dominant protocol for content distribution, adopted by the major media and content players. Oversi's grid computing engines offer a powerful new paradigm, using innovative P2P technology, to guarantee highest quality delivery for legitimate video content. We believe that Oversi, with its robust patented technology and exceptional founding and management team, is well positioned to make a difference in this emerging sphere”.

Joav Avtalion, Chairman and CEO of Oversi, said today, “With this funding, we plan to actively hire over 20 Internet technology professionals to accelerate the time-to-market of our new P2P-based solutions. Our vision is to materialize a new content delivery ecosystem that correlates with the social experience on the Net. We aim to enrich the economic potential available for legitimate content owners to distribute their content and monetize it by building a new value chain, supported by international partnerships. Carmel Ventures is an excellent long-term partner for us, with its global network of strategic partners.”

Two experienced entrepreneurs, CTO, Ofer Wald, and VP Marketing and Business Development, Eitan Efron, within the facilities of Lab-One Innovations incubator, founded Oversi in 2004. The Company is headed by Joav Avtalion, a co-founder of NICE Systems. The Company's systems are successfully implemented by Internet Service Providers worldwide.

Oversi, a pioneer in P2P content delivery technology, offers service providers a ‘New Engine for the New Internet™’. The company provides a single, scalable platform for delivering a multitude of media services, including: scalable high throughput content delivery; Internet TV and Video on Demand (VoD); online storage and back-up; personalized advertising; and community networking. Oversi’s platform is based on its patented Scalable Grid Service System (SGSS™) that is optimized to store and deliver huge amounts of internet data and traffic.

Oversi holds a unique vision for the next generation of networks by leveraging the potential of P2P for delivering video on demand and TV over the Internet. Oversi takes advantage of the benefits of distributed computation to achieve faster, more reliable, efficient and scalable content distribution, online storage and other revenue-generating services. Oversi's architecture is set to change the economics of Internet content distribution and change the metrics for monetizing Internet traffic.

For more information, please visit www.oversi.com