Silver Peak Secures $13 Million in Series B Financing; Duff Ackerman & Goodrich LLC Leads New Round of Investment in Network Acceleration Vendor.MOUNTAIN VIEW, Calif. -- Silver Peak Systems Inc., a developer of enterprise-class network acceleration appliances, today announced that it has secured $13 million in series B funding, bringing the total equity investment in the company to $21.5 million. Duff Ackerman & Goodrich (DAG) LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control led the round, which also included investments from Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon , Greylock Partners and Pinnacle Ventures. Silver Peak also announced the appointment of John Cadeddu, partner at Duff Ackerman & Goodrich LLC, and Bob Finocchio finocchio: see fennel. , Jr., private investor and part-time professor at Santa Clara Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. University, to Silver Peak's board of directors. "John and Bob have proven experience working with successful networking companies," said Rick Tinsley, chief executive officer and president of Silver Peak. "They are valuable partners that will help Silver Peak establish itself a leader in the network acceleration market." The new funding will provide working capital to grow all aspects of the company's business, enabling rapid market expansion in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. About Duff Ackerman and Goodrich Duff Ackerman & Goodrich (DAG) Ventures invests in technology leaders at the forefront of new, large markets. Based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA we seek to invest in those entrepreneurial teams able to overcome the obstacles that lead big problems to become big markets. Our investments span entrepreneurial companies in the life science, materials, traditional IT and other sectors. About Benchmark Capital Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises focused on long-term growth. Benchmark takes a labor-intensive, team-oriented approach to venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so in order to deliver a superior level of service to its portfolio companies. Benchmark's portfolio includes franchise companies such as Ariba (Nasdaq:ARBA), eBay (Nasdaq:EBAY), Handspring (Nasdaq:HAND), Juniper Networks Juniper Networks, Inc. (NASDAQ: JNPR) is an information technology company based in Sunnyvale, California and founded in 1996. The company designs and sells Internet Protocol network products and services. (Nasdaq:JNPR JNPR Juniper Networks, Inc. (stock symbol) ) and Red Hat (Nasdaq:RHAT RHAT Red Hat (stock symbol) RHAT Rainwater Harvesting Association of Tanzania RHAT Register Hba Attributes ). Managing more than $2 billion in committed venture capital, Benchmark focuses on early-stage investing in markets where the partners have direct, relevant experience. For more information on Benchmark, visit its web site at http://www.benchmark.com/. About Greylock Partners Founded in 1965, Greylock Partners is one of the world's leading 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] . Over the past 40 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an 'invited guest' in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, Continental Cable, DoubleClick, Internet Security Systems, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, Tellabs and Trilogy. Greylock's offices are located in the Boston area and in Silicon Valley. About Silver Peak Systems, Inc. Silver Peak enables enterprises to centralize branch office infrastructure and improve application performance across a Wide Area Network. The company pioneered Local Instance Networking, a technology that reduces "server sprawl" and achieves exceptional acceleration for all applications, including email, web, file transfers, real-time applications like Citrix and media applications such as VoIP. Silver Peak's NX Series appliances use Network Memory(TM) to eliminate the transfer of redundant information over the WAN to deliver a secure, LAN-like experience for distributed applications. It is the only solution to operate at the network layer, providing scalability and performance enhancements across all enterprise applications through a combination of local information storage, advanced data fingerprinting, data reduction, compression, Quality of Service (QoS) and latency/loss mitigation. Silver Peak is headquartered in Mountain View, Calif. For more information, visit http://www.silver-peak.com. NOTE: Silver Peak Systems, the Silver Peak logo, Silver Peak Network Memory and Silver Peak NX-Series are trademarks of Silver Peak Systems, Inc. Citrix(R) is a trademark of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. |
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