Bivio Announces $16.5 Million in Strategic Venture Funding; Company to Build Upon Capital Infusion From Top-Tier Investors to Support Accelerated Customer Acquisition and Revenue Growth in Hot IP Service Market.PLEASANTON, Calif., April 18 /PRNewswire/ -- Bivio Networks(TM), a leading supplier of next generation packet handling platforms, today announced a $16.5 million capital investment from venture capital and institutional investment firms including Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , InterWest Partners, Storm Ventures, and Venrock Associates.Bivio is capitalizing on a fundamental industry shift in the way network service delivery platforms are implemented. Several of the most innovative, fastest growing network applications in the areas of security, VoIP (voice over IP), multimedia, wireless and IPv6 are increasingly built as software applications running on network appliances. Next generation network appliances such as Bivio's 2000 product family provide a standardized open architectural foundation on which new services and the long standing promise of convergence can be delivered. Bivio's multi-gigabit network appliances, featuring a groundbreaking architecture specifically optimized for wire-speed execution of software-based network services, is rapidly gaining wider acceptance among network equipment vendors looking for cost-effective and timely ways to deliver advanced IP services. "Some of the biggest names in the industry are excited about the capabilities of Bivio's technology to overcome traditional performance and flexibility barriers," said Alex Mendez, general partner at Storm Ventures. "We are encouraged by the recent strides in market receptivity receptivity, n the state of being open to the action of a drug or homeopathic remedy. See also reactivity. and customer traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. that Bivio is gaining." "We are enthusiastic about the additional investment from some of the most prominent and highly respected investment entities around," said Elan (Emulated LAN) A virtual LAN in the ATM world. See LANE and virtual LAN. Elan - ["Top-down Programming with Elan", C.H.A. Koster, Ellis Horwood 1987]. Amir, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bivio Networks. "The commitment from these investment partners will enable us to broaden our market reach and continue to remain on the cutting edge of performance and innovation." "Given the extremely dynamic nature of many emerging network applications, we observe a major industry shift towards implementation of advanced network services in software," explained Amir. "These applications require a new class of highly scalable network appliances capable of delivering deterministic 1. (probability) deterministic - Describes a system whose time evolution can be predicted exactly. Contrast probabilistic. 2. (algorithm) deterministic - Describes an algorithm in which the correct next step depends only on the current state. multi-gigabit speeds and tunable processing power. Bivio will continue to pioneer innovative system design to allow its partners to establish market leadership in their chosen application areas." Bivio's programmable network appliances are helping customers to deliver services that require deep packet processing combined with high network throughput. Based on open industry standards, Bivio fuses unmatched flexibility with uncompromising performance to enable customers to deliver the foundation of the next generation network infrastructure. About Bivio Networks Bivio Networks has developed the industry's first next generation packet handling platform that combines unparalleled scaling of network performance, processing power, and application agility. Bivio's product is a network appliance (1) A specialized device for use on a network. For example, Web servers, cache servers and file servers can be implemented as general-purpose computers with the appropriate software or as network appliances, which are computers dedicated to a single function and cannot do anything featuring a groundbreaking architecture specifically optimized for wire-speed execution of emerging network services that increasingly demand deep packet processing combined with high network throughput. Based on open industry standards, Bivio Networks fuses unmatched flexibility with uncompromising performance to enable its customers to overcome existing bottlenecks and deliver the foundation of the next generation network infrastructure. Headquartered in Pleasanton, Calif., Bivio Networks is backed by Goldman Sachs, InterWest Partners, Storm Ventures and Venrock Associates. More information is available at http://www.bivio.net/ . NOTE: Bivio Networks Inc., the Bivio Networks logo, Bivio 2000(TM) and Bivio Networks(TM) are trademarks of Bivio Networks Inc. Media Contact: Derek Kober Neale-May & Partners 650-328-5555, ext. 126 dkober@nealemay.com CONTACT: Derek Kober of Neale-May & Partners, +1-650-328-5555, ext. 126, or dkober@nealemay.com, for Bivio Networks Inc. Web site: http://www.bivio.net/ |
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