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Certeon, provider of application intelligent networking, raises $15M in Series B funding
July 17, 2007
BURLINGTON, Mass. -- Certeon, the industry's first vendor to provide Application Intelligent Networking(TM) for significantly accelerating mission critical applications securely over wide area networks (WANs), today secured $15 million in venture funding. The Series B round, led by RRE Ventures, will be used to expand Certeon's global sales and marketing efforts to meet the increasing demand generated by its channels. Sigma Partners, Globespan Capital, Dow Employees' Pension Plan and Union Carbide Employees' Pension Plan also participated in the round.
Since its launch in February 2006, Certeon has sold its S-Series(TM) application acceleration appliances to customers in the United States, Europe, South America, Asia/Pacific, Australia and the Middle East. This latest round of funding will enable the Company to further penetrate these regions and meet the growing demand for an application acceleration solution with specific knowledge of mission-critical applications.
"Today's enterprises are growing more and more distributed, and as the first company dedicated to Application Intelligent Networking, Certeon offers a unique capability by speeding up the secure delivery of information to global enterprises," said Peter Dougherty, CEO of Certeon. "This funding will allow us to deliver our application-intelligent solution to a broader group of customers and partners worldwide."
With the closing of the Series B financing, Richard A. McGinn of RRE Ventures joins Certeon's board of directors. McGinn brings to his new position 30 years of leadership experience in technology and networking. McGinn is the former chairman and chief executive of Lucent Technologies. While at Lucent, he directed engineering, research and technology investments of more than $4 billion annually. McGinn is currently a director of the American Express Company and the Mountain Top Foundation.
"Certeon's approach allows customers to deploy applications more quickly and achieve greater productivity in the areas of collaboration, enterprise content management and product lifecycle management. Certeon provides clear value in driving the globalization and productivity of enterprises worldwide," said McGinn."Certeon's ability to accelerate all traffic while securely optimizing mission-critical applications gives it a distinct edge in the application acceleration market."
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