Cambridge, England, 18 January 2005
CacheLogicTM today announced that it had closed a $5.6M Series B funding round, led by 3i plc. CacheLogicTM is a market-leading innovative provider of carrier-grade network intelligence and traffic management solutions to alleviate broadband traffic issues and minimise costs for Internet Service Providers (ISPs).
CacheLogic plans to use the funds to increase sales of its existing products and invest further in research and development of new solutions. Existing investors Pentech Ventures and Cambridge Gateway also participated in the round.
“We have demonstrated the strength of our technology and proposition to the market and are now moving into the next stage of our evolution by broadening our geographical coverage and developing a new family of innovative products” said Adam Twiss, founder and CEO of CacheLogic.
"We are delighted to support CacheLogic in this funding round. We look forward to working closely with the team and seeing CacheLogic launch further innovative solutions to the market. CacheLogic is a dynamic company with global aspirations; exactly the sort of business which 3i seeks to back.” said Ben Gales, Investment Director at 3i.
"Within 18 months of our series A investment in CacheLogic, the company has already launched its first family of products, signed key customers around the globe, and received widespread recognition for its products and expertise." said Alasdair Greig of the Cambridge Gateway Fund. “We have continued to invest further in CacheLogic because the company is aggressively achieving their milestones and demonstrating real value for their customers."
Sandy McKinnon from Pentech added, “We have assisted in the growth of CacheLogic to its current position where it is now successfully selling its complimentary suite of products and has established itself as a source of expertise within the Internet and ISP community. The additional monies and strong VC support will be beneficial in continuing to grow the company.”
Notes to Editors
CacheLogic (Cambridge, England) is a technology company that provides a suite of complimentary products that deliver traffic management and network intelligence solutions for the Internet Service Provider and Telecommunications marketplace.
CacheLogic's core products provide carrier-grade solutions that enable ISPs to achieve significant cost savings through the intelligent management of Peer-to-Peer traffic across their networks, without affecting the end-user experience.
Further information can be found at http://www.cachelogic.com
3i Group plc is a FTSE100 company and world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific.
3i's Venture Capital business is focused on early stage technology investing in the Healthcare, Software, Communications and Electronics sectors. At 30th September 2004, it represented 14% of 3i's portfolio value and operates in Europe, Asia and the United States.
Further information can be found at http://www.3i.com
About The Cambridge Gateway Fund
The Cambridge Gateway Fund invests predominantly in companies with global reach that are connected with the eastern region of the UK and which are exploiting innovative core technology in Information and Communication Technologies and Life Sciences. The Fund is advised by NW Brown Capital Partners Limited, which is authorised by the FSA; and associated with the NW Brown Group, which was founded in Cambridge in 1974.
The group employs 100 people and offers a comprehensive range of financial services to private and corporate clients."
Further information can be found at
About Pentech Ventures
Pentech Ventures are a specialist UK early-stage software investment fund. Pentech invests in “best of breed” software companies that can demonstrate strong technical leadership with products addressing global markets.
Investing in UK and Ireland, Pentech was formed in July 2001 and has made 9 investments to date.
Pentech Ventures are part of Penta Capital Partners and are regulated under the FSA.
Further information can be found at http:// www.pentechvc.com
Editor's Note: Product photography, executive photos and company logos may be downloaded from http://www.horizonpr.com.
Legal Note: All trademarks and registered trademarks previously cited are hereby recognized and acknowledged.
CacheLogic, Streamsight 510 and Cachepliance are trademarks of CacheLogic.
Published on: 12:00AM on 18th January 2005