Andes Networks Secures $22 Million in Series B Funding.Business/Technology Editors MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Feb. 12, 2001 VantagePoint Venture Partners Leads Top Tier Investors including Sun Microsystems, Infinity Capital, and PacRim Venture Partners Andes Networks, a provider of next generation SSL acceleration SSL acceleration is a method of offloading the processor-intensive public key encryption algorithms involved in SSL transactions to a hardware accelerator. Typically, this is a separate card that plugs into a PCI slot in a computer that contains one or more co-processors able to platforms, today announced that it has completed its Series B funding having raised $22 million from Silicon Valley venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . Andes Networks' Series B funding was led by VantagePoint Venture Partners, one of the nation's largest and most active venture capital firms. Additional investors include Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. as well as Andes' original investors, Infinity Capital and PacRim Venture Partners. A small group of private investors also participated. Andes Networks will utilize the investment to develop and deploy its flagship products as they simultaneously redefine the IP traffic management marketplace. For companies delivering mission-critical information over the Web, Andes Networks is the provider of SSL acceleration platforms that allow secure delivery of all Web content, applications, and transactions, without penalty of cost or performance, based on Andes' breakthrough, NonStop SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. (TM) technology. (See today's related announcement for more information on Andes Networks.) As organizations are increasingly faced with the challenges of efficiently distributing confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead over the Internet, the Internet, the, international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises need for secure content delivery has never been greater. This historic move to the Web has often required network designers to make a choice between optimizing website performance and securing systems data. Andes Networks' breakthrough NonStop SSL technology eliminates this trade-off by streamlining secure delivery of all Web site traffic at a fraction of the cost of current solutions. The Andes Networks solution manages risk and alleviates marketing problems resulting from poor Web site performance. "In today's Internet infrastructure market, Andes Networks has developed a unique technology solution that redefines the way web infrastructures will be designed, yet deploys a simple drop-in solution," said Jason Strober, a partner at VantagePoint. "Andes' SSL platform clearly makes a statement to all those building Internet Data Centers." "Andes Networks has built a Silicon Valley `dream team,' including a management team hailing from some of our industry's most respected companies, and an investment group comprised of some of the Valley's top venture capital firms," said Paul Gordon Paul Gordon may refer to:
The Andes executive team is comprised of seasoned executives and proven engineering talent from leading technology companies. Their collective expertise in ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. chip design, high-performance computing High-speed computing, which typically refers to supercomputers used in scientific research. systems, security, and networking has produced Andes' groundbreaking NonStop SSL technology This market-making mindset mind·set or mind-set n. 1. A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations. 2. An inclination or a habit. positions the Andes Networks organization to be an exclusive and innovative solutions provider for next-generation security systems. Senior level executives include: Paul Gordon, CEO and President Glen Anderson, Founder and Vice President, Engineering Guillermo Maturana, Ph.D., Founder and Chief Technology Officer John Wawrznyek, Ph.D., Founder and Vice President, Technology Bill Miller, Vice President, Marketing Andes plans to bring a product line, based on its suite of patented technologies, to market in the third quarter of 2001, with beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the in the second quarter of 2001. About Andes Networks Andes Networks, a provider of next generation SSL acceleration platforms, has introduced a dramatic set of breakthrough technologies for SSL-accelerated traffic on the Internet. Andes' patented NonStop SSL technology complements today's high-speed web switches, web servers, firewalls and cache systems, to securely and cost-effectively manage IP traffic without compromise to network performance. The company is led by a management team, hailing from blue-chip technology companies, who have leveraged their expertise in ASIC chip design, high-performance computing systems, security, and networking. The company is backed by VantagePoint Venture Partners; Sun Microsystems; Infinity Capital; PacRim Venture Partners, and a small group of private investors. Andes Networks is based in Mountain View, Calif. More information on the company and its technology can be found at www.andesnetworks.com. About VantagePoint Venture Partners VantagePoint Venture Partners (www.vpvp.com) is one of the nation's largest and most active venture capital firms with more than $2.5 billion in committed capital devoted to new networking, communications, semiconductor and Internet infrastructure companies. VantagePoint Venture Partners is a full-service venture firm offering a unique blend of technology, venture funding, partnering, marketing, and corporate finance expertise. With offices in Silicon Valley and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , VantagePoint is geography and stage-independent, providing capital from the seed stage through mezzanine rounds. About Infinity Capital Infinity Capital (www.infinityllc.com) is an early stage venture capital firm focused on cultivating an entrepreneur's ingenuity. Infinity Capital invests in the communication and Internet market sectors and has partnered with entrepreneurs to create dynamic companies developing leading-edge technology, growing into world-class enterprises. About Sun Microsystems Since its inception in 1982, a singular vision - The Network Is The Computer(TM)- has propelled Sun Microsystems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ) to its position as a leading provider of industrial-strength hardware, software and services that power the Internet and allow companies worldwide to dot-com their businesses. With $15.7 billion in annual revenues, Sun can be found in more than 170 countries and on the World Wide Web at http://sun.com. About PacRim Venture Partners PacRim Venture Partners (www.pacrimpartners.com) is a professional venture capital fund with investors from the United States, Taiwan, Hong Kong and Mainland China. Based in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. , the firm focuses its investments on early-stage information technology companies in Silicon Valley. In addition to bringing its portfolio companies significant value derived from the team's broad range of expertise in the information technology arena, PacRim Venture Partners strives to assist its portfolio companies through tapping the synergies created by providing access to its strategic partners in Greater China. |
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