Tel Aviv start-up NetReality raised $3 million in its second private placement since its April ’97 founding. $2 million of the sum was raised from the Cedar Fund, and the rest from the Gilde IT fund.
The company’s core products, branded WiseWAN, integrate remote monitoring with adaptive bandwidth management to shape traffic in response to changing WAN bandwidth availability. NetReality’s products help WANs, wide area networks for organizations, better exploit bandwidth, a limited and expensive resource. The product line is also meant for ISPs and telephony companies.
Cedar is an international investment fund held by US, European and Israeli investors including Goldman-Sachs. Gilde IT is part of European investment company Gilde Investment Management, headquartered in Holland.
NetReality reported the funds will be used to continue development of the product line and for marketing.
In NetReality’s first private placement, the Comsor fund, owned by Comverse and George Soros, invested in the company.
The WiseWAN products’ market launch is scheduled for this month. The products won the January 1998 ComNet New Products Achievement Award. The company has a branch in Santa Clara, California.
Published by Israel's Business Arena May 6, 1998