CacheLogic Closes $5.6M B Round
CacheLogic today announced that it had closed a $5.6M Series B funding round, led by 3i plc. CacheLogic is a market-leading innovative provider of carrier-grade network intelligence and traffic management solutions to alleviate broadband traffic issues and minimise costs for Internet Service Providers (ISPs).
CacheLogic plans to use the funds to increase sales of its existing products and invest further in research and development of new solutions. Existing investors Pentech Ventures and Cambridge Gateway also participated in the round.
“We have demonstrated the strength of our technology and proposition to the market and are now moving into the next stage of our evolution by broadening our geographical coverage and developing a new family of innovative products” said Adam Twiss, founder and CEO of CacheLogic.
"We are delighted to support CacheLogic in this funding round. We look forward to working closely with the team and seeing CacheLogic launch further innovative solutions to the market. CacheLogic is a dynamic company with global aspirations; exactly the sort of business which 3i seeks to back.” said Ben Gales, Investment Director at 3i.
"Within 18 months of our series A investment in CacheLogic, the company has already launched its first family of products, signed key customers around the globe, and received widespread recognition for its products and expertise." said Alasdair Greig of the Cambridge Gateway Fund. “We have continued to invest further in CacheLogic because the company is aggressively achieving their milestones and demonstrating real value for their customers."
Sandy McKinnon from Pentech added, “We have assisted in the growth of CacheLogic to its current position where it is now successfully selling its complimentary suite of products and has established itself as a source of expertise within the Internet and ISP community. The additional monies and strong VC support will be beneficial in continuing to grow the company.”