Press Release
BIVIO NETWORKS SECURES $8.5 MILLION IN FUNDING
New Funding Supports Company's Next Phase of Growth and Business Expansion
Pleasanton, Calif., August 21, 2006 – Bivio Networks, Inc., the leader in high-speed network appliance platforms for delivery of deep packet processing applications, today announced the company has secured $8.5 million in venture capital funding. Silver Creek Ventures led the round with participation from Bivio's current investors, InterWest Partners, Storm Ventures, Venrock Associates, and Goldman Sachs. As part of the investment, Mark Masur, general partner, Silver Creek Ventures, will join Bivio's board of directors.
Funding will be used to accelerate sales, marketing, and business development initiatives supporting Bivio's growth plans. The funding follows the completion of a record quarter for Bivio in units shipped and in revenue, as the company added U.S. and international network equipment manufacturers, independent software developers, systems integrators, and several federal government agencies to its customer list.
Bivio's flagship product, the B2000 network appliance, is a high-performance, programmable network device that combines a groundbreaking scalable hardware architecture with a software platform that includes a standard Linux-based execution environment and a comprehensive set of networking features. By fusing flexible computing and high-speed networking in a unique network appliance platform, the B2000 is changing the way networking products are built. Using the B2000, companies developing and deploying emerging deep packet processing applications achieve dramatic increases in performance while significantly reducing their product development costs and time-to-market. This makes the B2000 the ideal network appliance platform for a wide range of emerging network infrastructure solutions, such as security, traffic management, application acceleration, VoIP, and mobility applications.
"Silver Creek's strategy is to invest in outstanding management teams that are building market-leading companies," said Mark Masur, general partner, Silver Creek Ventures. "Today's policy-centric networks require a new class of infrastructure appliance platforms, and as evidenced by its diversified market penetration, significant customer acquisition, and rapid revenue growth, Bivio has seized the leadership position in this network transformation. Bivio is an outstanding investment, and we look forward to a collaborative relationship with its team and current investors in helping to further capitalize on this tremendous market opportunity."
"Just as the workstation transformed the personal computer industry, Bivio's platform has launched a new era in networking, addressing the unique demands created by emerging network applications that increasingly combine deep packet processing with high-speed networking throughput and performance demands," said Elan Amir, president and CEO of Bivio Networks. "We are very pleased to have Silver Creek Ventures join Bivio and our current investors in this 'big play' as we continue to demonstrate our industry leadership, aggressively executing against market, customer, and revenue growth plans."
About Bivio Networks
Bivio Networks has developed an award-winning deep-packet-inspection and processing platform that combines unparalleled scaling of network performance, processing power, and application agility. Bivio's network appliance platform features a groundbreaking architecture specifically optimized for wire-speed execution of emerging network services that increasingly demand deep packet processing combined with high network throughput. Based on open industry standards, Bivio Networks fuses unmatched flexibility with uncompromising performance to enable its customers to overcome existing bottlenecks and deliver the foundation of the next-generation network infrastructure. Headquartered in Pleasanton, California, Bivio Networks is backed by Goldman Sachs, InterWest Partners, Storm Ventures, and Venrock Associates. More information is available at http://www.bivio.net/.
Media Contact:
Kimberly Angell or Aimee Balsley
Schwartz Communications for Bivio Networks
E-mail: bivio@schwartz-pr.com
Phone: (415) 512-0770
