IP Dynamics Completes $15 Million Series C Funding, Investment Facilitates Rollout of a New Breed of VPN Solution
CAMPBELL, Calif.--(BUSINESS WIRE)--Oct. 15, 2001-- IP Dynamics, developer of a new breed of Virtual Private Networks (VPN), Monday announced the completion of its series C funding of $15 million led by Intel Capital; with several participants including Intel Capital, SUNeVision Ventures LLC; Technology Associates Management Co. (TAMC); and private investors Patrick Gelsinger, CTO, Intel Corp.; David Sun, co-founder of Kingston Technology; and Dong Kwan Kim, president of DaeHong Corp., Korea.
IP Dynamics provides software network infrastructure systems to create, provision and manage Software VPN Overlays based on domain names. Its solution is designed to complement the offerings of other VPN vendors. The architecture enables service providers to offer integrated remote access and extranet VPN services as an affordable commodity to small- and medium-size organizations.
In addition, the solution is targeted to meet the requirements of integrating such small organizations into extranets of large enterprises. These include supply chain networks and networks that integrate large service organizations with thousands of retail affiliates, such as financial and insurance services networks.
IP Dynamics will use the funding to expand its product development and help launch its VPN solution worldwide. "IP Dynamics' solution is based on a symbolic-level paradigm to create virtual networks and eliminate dependence on the physical attributes of the underlying networks.
"The result is a system to create and shape unbounded software VPN overlays with unprecedented ease of administration and management," said Dr. Hasan Alkhatib, founder, chairman and CEO of IP Dynamics.
About IP Dynamics
IP Dynamics, a Silicon Valley startup, is leading the introduction of Software VPN Overlays, a new breed of VPN solutions for dynamic, software-based VPN services. IP Dynamics provides carrier-class solutions for Internet-based service providers to offer new VPN services as an affordable commodity. For more information, visit www.ipdynamics.com, or call 866/QUIK-VPN (784-5876).
About Intel Capital
Intel Capital, Intel'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. Additional information is available at www.intel.com/capital.
About SUNeVision Ventures
SUNeVision Ventures creates linkages between world-class technology innovators in the United States and leading market developers in Greater China and Asia. Supported by two well-regarded companies, SUNeVision Holdings and Sun Hung Kai Properties, SUNeVision Ventures invests in Internet infrastructure, wireless communications, enterprise software and related technologies.
For more information, visit www.sunevisionvc.com.
TAMC is a venture capital funds management company headquartered in Plano, Texas, with regional offices in Santa Clara, Calif., and Taipei, Taiwan. By leveraging extensive angel and incubator networks in these high-tech hotbeds, TAMC seeks out top-notch innovative startups with focuses on semiconductors, Internet infrastructure, wireless and optical communications.
For more information, visit www.tamcfund.com.
CONTACT: IP Dynamics Nanette Lee, 408/369-6900 Ext. 163, .