Sources inform ''Globes'' that Crescendo Networks Ltd., a developer of solutions for optimizing enterprise application performance, has closed a third financing round, raising $10 million. The round was led by Evergreen Partners, which was joined by the company’s existing investors, Apax Partners, Stage One Ventures, Magnum Communications Fund, and Convergent Capital.
Crescendo Networks was founded in 2002, and has raised $17 million to date. The company’s technology accelerates performance of enterprise servers and critical software applications. Its products improve the performance of enterprise data centers, speed up end user response, and significantly increase the volume of user traffic that centers can handle. Crescendo’s platform competes with products manufactured by Cisco Systems Inc. (Nasdaq: CSCO), and F5 Networks Inc. (Nasdaq: FFIV).
Crescendo Networks’ applications are now deployed at dozens of data centers worldwide. The company has won a number of awards, including a listing by technology magazine “Red Herring” in its list of top 100 innovators, the Most Innovative Start-Up award from “Network Magazine,” and the InterOp award in the performance enhancement category at the InterOp conference in Las Vegas.
Published by Globes [online], Israel business news - www.globes.co.il - on December 6, 2006
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