Cotendo Announces $17 Million of Funding
By VisionwizTeam at June 15, 2011 | 11:13 am | Print
Cotendo, a cloud-based acceleration technologies, got $17 million private funding round that will fuel the company’s long-term growth strategy and continued technology innovation in the delivery of highly-personalized dynamic content for mobile and web applications.
Strategic investors and new business partners Citrix Systems and Juniper Networks, through its Junos Innovation Fund, participated in this round of funding along with existing venture backers Sequoia, Benchmark and Tenaya Capital. Citrix and Juniper, market leaders in their respective industries, join the growing ranks of Cotendo strategic partners, including AT&T, Google and Sumitomo.
This new round of funding will be used to continue Cotendo’s global expansion into new markets and fast growing regions around the world.
Their participation is further validation that Cotendo’s unique acceleration services are solving a critical need in the market for Enterprise customers, service providers and network operators.
The synergy between the services and technologies of Citrix Systems and Cotendo blend on-premise physical and virtual appliances, content acceleration and cloud services that will accelerate and optimize delivery from the end user all the way to the enterprise over distributed networks, thereby improving end user experience from any location to any device.
Enterprise IT departments increasingly demand end-to-end solutions that will effectively scale the enterprise, improve access to services, reduce costs and overhead, and deliver content at the highest possible performance for the end user.
What VCs Says:
“Our customers have an ever increasing need for a diverse set of capabilities in their mobile and wired network infrastructure,” said Manoj Leelanivas, executive vice president and general manager, Junos Application Software Business Group at Juniper Networks. “Innovative CDN providers such as Cotendo can help meet such needs by bringing value-added software services to market more quickly, leveraging the Junos Platform and Juniper Media Flow Solution.”
The relationship between Juniper Networks and Cotendo will address the demand of service providers for technologies that will enable them to offer value added services and over-the-top services to content providers. This includes mobile carriers, large ISPs, and telecom companies that buy products to serve enterprise customers. Service providers will be able to offer complementary services, with high performance and a low cost of equipment-based capabilities. These software-implemented services on flexible platforms will enable them to gain competitiveness and agility in the marketplace.
Best Part Is:
Cotendo will also launch and commercialize its new Mobile Acceleration Suite, and announced today the new frontier of acceleration services, ensuring fast and reliable delivery of mobile content regardless of location, device, or application. “The architectural fabrics of the original content delivery systems were not designed for the modern era and have been swamped by the growth of the mobile Internet,“ said Michael Moritz a partner at Sequoia Capital. “Cotendo’s approach is for today and tomorrow which is why customers all over the world have chosen to build on its new and impervious foundation.”
According To Its CEO:
With this funding round Cotendo will also embark on a rapid sales and business development expansion in Asia-Pacific and Latin America to address the growing demand for mobile content acceleration services in places where the Smart Phone frequently replaced the PC as a primary computing and networking vehicle. “Tapping into the world’s economic growth engines, both in rapidly expanding regional economies and rapidly expanding verticals, will supercharge the long-term growth of Cotendo,” says Ronni Zehavi, the company’s CEO and Co-founder.
More at:http://www.cotendo.com/
