Internet Optimization Vendor, BoostWorks, Closes $21 Million In Third Round Financing, Led by 3i
SAN FRANCISCO, CA -- (PRNewswire) -- Nov. 27, 2000 -- BoostWorks" (www.boostworks.com), a leading provider of server-based solutions that ensure optimal performance in the "last mile" delivery of Web content and applications, today announced that it has secured third round funding of $21 million, led by 3i. The new investors in this transaction also include Intel Capital, Yamada Corporation and Wafra Investment Advisory Group, Inc. Existing investors including Banque National de Paris (BNP) Private Equity, Innovacom, Partech International, Sofinnova Partners and Cross Atlantic Ventures also added to their initial investment in BoostWorks. The investment will help BoostWorks pursue its worldwide expansion.
As part of the investment, Stuart Chapman of 3i will receive a seat on BoostWorks' Board of Directors. "BoostWorks' innovative products will set a new standard for network performance by streamlining the last mile delivery of data from the edge of the network to the user," he explained. "BoostWorks' suite of intelligent network acceleration software address performance issues affecting the Internet infrastructure and help companies optimize content delivery across points to the network. Our investment in BoostWorks reflects our belief in the management team, the technology, and BoostWorks' ability to provide their customers with solutions for optimizing network performance." "We are extremely pleased with this latest funding, which will provide us with the resources needed to further expand our operations worldwide," said Vincent Titolo, Chairman and CEO of BoostWorks. "In fully addressing and integrating content delivery requirements for the last mile, BoostWeb Optimizer solves the problem created by the proliferation of access devices with a complete and intelligent all software solution. We deliver Web and application content to the end users' screen fast, using less available bandwidth -- wherever and whatever that screen may be."
"Performance in the 'last mile' has become a leading industry concern," notes Peter Firstbrook, research analyst at the META Group. "The shift in attention to wireless and the proliferation of access devices puts that last mile in the critical path. You cannot underestimate the importance of quickly getting content into the hands of the end-user. Sites that don't address this in the near term risk losing business to those that do."
The BoostWorks flagship product is the BoostWeb Optimizer, a server-based software solution that reduces the amount of HTTP traffic on the network and accelerates Web page display. These performance enhancements result from BoostWorks' exclusive and patent pending Intelligent Network Acceleration (INA) technology. Depending on the type of data and network speeds, pages display two to four times faster, the amount of HTTP traffic is reduced two to seven times, and scalability of the site is improved. Furthermore, BoostWeb accelerates Internet content delivery by customizing and optimizing Internet content format for each specific user device.
BoostWorks provides a suite of server based solutions that ensure optimal performance in the last mile delivery of Web content and applications. Its flagship product, BoostWeb Optimizer, provides the most cost-effective method of improving end-to-end network performance for any kind of network -- Internet, Intranet, or Extranet. BoostWorks is privately held and counts 300 enterprise, ISP, wireless, and OEM customers worldwide. It is headquartered in San Francisco, California with offices in Europe and Asia. For further information, please visit BoostWorks' Web site at www.boostworks.com.
3i is a leading international venture capital company with U.S. offices in Palo Alto, CA and Waltham, MA. 3i Group Plc. is listed on the London Stock Exchange and is in the FTSE100. Worldwide, 3i has invested almost $18 billion in more than 13,400 businesses through a network of 38 offices; 34 in Europe, 2 in Asia and 2 in the U.S. 3i leverages its worldwide presence to add value to its portfolio companies. In the U.S., 3i concentrates on technology with an emphasis on business Internet and telecommunications. Investments in the U.S. include: CollegeNet, Colorado MicroDisplays, Develop Online, Garage.com, Intrinsic Graphics, One World Networks, RetailExchange, TradeAccess, WineryExchange and Yet2.Com. Visit 3i at www.3ius.com.
About Intel Capital:
Intel Capital, Intel Corporation's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital.
About The Banque Nationale de Paris:
The Banque Nationale de Paris is one of Europe's largest banks, with assets of over US$300 billion and a presence in over 80 countries worldwide. It currently has over US$1.5 billion invested in unlisted companies with a 25-year and $1.5 billion cumulated experience in private equity investments. Since 1998, the bank has been moving towards the creation of funds sponsored by BNP Private Equity, among which the US$150 million BNP Europe Telecom & Media Fund II, currently being formed.
About Wafra Investment Advisory Group:
Wafra Investment Advisory Group, Inc. is an investment management company offering an extensive range of investment services. Originally founded to manage funds in the United States for financial institutions of Kuwait and other Gulf states, it has broadened its mission and now serves over 30 institutional and private clients around the world. For more information visit www.wafra.com.
About Yamada Corporation:
Yamada Corporation -- Yamada Corporation serves as a vital link between leading high-tech, overseas industries and Japanese firms. The clients represented are legendary in the fields of space, aircraft, defense, computer/communication and biotechnology. About Innovacom:
Innovacom, France Telecom's venture capital subsidiary, manages shareholder investments totaling over US$200 million distributed across several funds.
About Partech International:
Partech International manages over US$200 million in venture capital and US$150 million in mezzanine financing investments, with a very strong emphasis on international investments.
About Sofinnova Partners:
Sofinnova Partners, a French leader in venture capital funding, has offices in the United States, France and Asia.
About Cross Atlantic Ventures:
Cross Atlantic Ventures manages a fund dedicated to investments in France, Israel and the United States. Its primary mission is to help networking and Internet companies enter the international marketplace.
George Moore of BoostWorks, 415-546-9100, or ; or Caroline Carmagnol or Mary Ann Poinsignon, , both of Alize Public Relations, 650-320-8900, for BoostWorks