Crescendo Networks, a provider of Web application acceleration and optimizintion, has raised $5 million in Series D funding. Trilogy Equity Partners was joined by return backers Evergreen Venture Partners, Apax Partners, StageOne Ventures and Challenge Fund. The company had previously raised $36.2 million, and has moved its headquarters from Israel to Menlo Park.
Crescendo Networks, a recognized performance leader for accelerating and optimizing Web application delivery, today announced it has received an additional $5 million investment to further fuel sales expansion. Co-founder and CEO Adoram Ga’ash has relocated to Menlo Park, California where the corporate headquarters has been established. Engineering and corporate operations will remain in Tel Aviv, Israel.
Crescendo Networks has attracted more than $45 million in investment over the previous 7 years. This current round of financing was led by Trilogy Equity Partners, a venture capital firm based in Bellevue, Washington, along with current investors Evergreen Venture Partners, Apax Partners, StageOne Ventures, and Challenge Fund, who also participated in the round. Peter van Oppen of Trilogy Equity Partners will join Crescendo’s Board of Directors.
Since launching its revolutionary application acceleration platform in 2006, Crescendo Networks’ Application Delivery Controller (ADC) has been recognized for its superior performance and innovative architecture by numerous industry awards, product benchmarks and customers. Today, hundreds of corporations and fast-growing web properties rely on Crescendo Networks’ ADC to deliver exceptional application performance for global users.
“We are very excited to complete this round of financing and look forward to expanding our footprint in the US market. Having established a recognized technical advantage and built a substantial global customer base, it is time to increase our existing presence in the world’s largest technology market,” said Adoram Ga’ash, CEO of Crescendo Networks.
“As the IT world experiences a paradigm shift in the way applications are delivered, data centers are incorporating cloud computing, SaaS and virtualization as part of modern web application infrastructures. We believe Crescendo Networks’ application delivery solutions are perfectly poised to capitalize on these expanding market opportunities,” said Peter van Oppen of Trilogy Equity Partners. “We are pleased to join in providing Crescendo Networks with the funding necessary to further fuel the company’s US sales expansion and continued global product innovation.”
About Crescendo Networks (www.crescendonetworks.com)
Crescendo Networks is the recognized performance leader for accelerating and optimizing the delivery of business-critical, Web-enabled applications. The company’s unique application delivery architecture dramatically improves the operation of today’s demanding application infrastructure. The world’s largest corporations and fastest growing Web properties rely on Crescendo for the application performance and efficiency needed to ensure usability, facilitate rapid business growth, lower IT costs and capture additional revenue.
About Trilogy Equity Partners
Established by a team of wireless and technology entrepreneurs, Trilogy Partnership invests private capital in areas where in-house expertise and market growth promise superior financial returns. Current businesses include operating wireless carriers in multiple markets as well as investments in multiple early stage application and infrastructure companies. Trilogy’s partners include industry leaders and senior managers from wireless telecommunication, data storage and computer software industries.