Faster Internet co Hola raises $10m

The financing round in the Netanya-based start up was led by Li Ka-shing’s Horizon Ventures.

Hola, which is developing software to make the Internet up to ten times faster, has raised $10 million in a financing round led by Li Ka-shing’s Horizon Ventures and with the participation of previous investors Magma Venture Partners, DFJ, DFJ Tamir-Fishman, and Trilogy VC. Hola has raised $18 million to date

Based in Netanya, Hola is developing software as an overlay network that it hopes could make the Internet far faster than it is today. Hola claims that its systems will result in faster browsing, faster videos and clearer voice and video chat. The systems are applicable for PC, laptop and smartphone operating systems.

Hola was founded by CEO Ofer Vilenski and CTO Derry Shribman who previously founded Jungo in 2000. Jungo, which developed residential and business gateway software platforms and applications, and which was sold to NDS in 2006 for $107 million.

Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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