Crescendo Networks Secures New Round of Funding.Web Application Acceleration and Optimization Company Raises Additional $9.5 Million TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel, & MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif. -- Crescendo Networks Crescendo Networks is an Israeli company dealing in the Application Front End Acceleration market. The company develops a dedicated hardware based appliance which aims to improve web server tiers utilization by offloading them from different tasks e.g. , Ltd., the recognized performance leader in accelerating and optimizing Web applications, today announced the company has secured $9.5 million in its third round of major funding, bringing its total amount raised to $36.2 million. The Challenge Fund - Etgar II L.P. participated in the current financing and joined current investors, Evergreen Venture Partners, Apax Partners, Magma Venture Partners, StageOne Ventures and Convergent Capital. In these tough economic times, Crescendo Networks is one of a very few companies to receive additional venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends from new investors, illustrating its strength in the market place. "With its steady stream of orders from around the world, strong year-in year-out revenue growth, new customers added monthly and an experienced management team at the helm, investing in Crescendo was an exciting opportunity for us," said Tamar Ciehanover, The Challenge Fund Managing Partner. "As businesses turn to the Web to conduct most of their activities, we know how important back-end technology - the very driver of online performance - will be. With the industry's most comprehensive and best performing Web application optimization and acceleration solution, Crescendo is poised to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this hyper growth industry." Adoram Ga'ash, Crescendo's Chairman 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. , together with his team, have been rapidly expanding the company's customer base to hundreds of the world's leading media, education, finance and retail companies, including: Aeropostale, Colgate, Friendster and ICBC ICBC Industrial and Commercial Bank of China ICBC Insurance Corporation of British Columbia ICBC International Commercial Bank of China ICBC Imax Cargo Bay Camera (Space Shuttle) ICBC Interagency Committee on Back Contamination . As a veteran entrepreneur, Ga'ash is no stranger to growing companies, having previously served as the founding General Partner of StageOne Ventures, established and managed Radwiz, which was acquired by Terayon (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). :TERN tern, common name for a sea bird of the Old and New Worlds, smaller than the related gull. Because of their graceful flight and their long pointed wings and forked tails, some terns are called sea swallows. They plunge headlong into the water to catch small fish. ), and co-founded several other startups who have seen commercial success during the previous decade. "We are very pleased with the closure of this new financing. This is an important period for Crescendo as it expands its worldwide operations and gets ready to roll out new products. Therefore, finding a perfect fit to help fund these operations was essential," said Ga'ash. Crescendo Networks' flagship product, AppBeat[TM] DC, is the industry's best performing application delivery solution, providing high availability, scalability, acceleration and optimization for Web applications. Unlike competing solutions, AppBeat DC leverages the industry's only purpose-built platform, uniquely designed for maximum performance and feature concurrency Operations that are performed simultaneously within the computer. For example, dual-core CPUs provide complete overlapping of two independent processes. See dual core, hyperthreading, multiprocessing, multitasking, multithreading, SMP and MPP. concurrency - multitasking . By offloading servers from process-intensive tasks and optimizing the delivery of the application to the users, AppBeat DC significantly improves overall application performance, security and availability while reducing datacenter costs. About Crescendo Networks Crescendo Networks is the recognized performance leader for accelerating and optimizing the delivery of business-critical, web-enabled applications. The company's unique multi-tier application architecture dramatically improves the operation of today's demanding application infrastructure. The world's largest corporations and fastest growing web properties rely on Crescendo for the application performance and efficiency needed to ensure usability, facilitate rapid business growth, lower IT costs and capture additional revenue. To learn more about Crescendo Networks' application delivery solutions, visit www.crescendonetworks.com. Crescendo Networks, the Crescendo Networks Logo and AppBeat are trademarks or registered trademarks of Crescendo Networks in the U.S. and other countries. Other names may be trademarks of their respective owners. |
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