Sunnyvale, Calif. — Cotendo, a provider of cloud-based acceleration technologies, announced on Wednesday the completion of a $17 million funding round.
Juniper Networks and Citrix Systems joined existing backers Tenaya Capital, Benchmark and Sequoia as participating investors in the round.
The Sunnyvale, Calif.-based firm plans to use the funds to continue global expansion.
The company plans to launch a new mobile content acceleration service, and also embark on rapid sales and business development expansion in Asia-Pacific and Latin America.
“Tapping into the world’s economic growth engines, both in rapidly expanding regional economies and rapidly expanding verticals, will supercharge the long-term growth of Cotendo,” said Cotento co-founder and CEO Ronni Zehavi.
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http://www.cotendo.com
Sunnyvale, Calif. — Cotendo announced Wednesday that completion of a $17 million private funding round that will progress the company’s long-term growth strategy and continued technology innovation.
The award-winning innovator of cloud-based acceleration technologies has plans to also use the funds as a continuance to their global expansion in to new and fast growing regions around the world.
Companies such as Juniper Networks and Citrix Systems joined existing venture backers such as Tenaya Capital, Benchmark and Sequoia as participating funders for Contendo’s future expansion and plans.
“The powerful combination of our complementary technologies will address the pressing needs of enterprise customers for the acceleration of cloud-based and mobile applications, and produce significant new business opportunities for both companies,” Citrix CTO Simon Crosby said.
With Cotendo’s funding round, they will not only launch and commercialize its new Mobile Acceleration Suite, but also embark on rapid sales and business development expansion in Asia-Pacific and Lin America.
“Tapping into the world’s economic growth engines, both in rapidly expanding regional economies and rapidly expanding verticals, will supercharge the long-term growth of Cotendo,” Ronni Zehavi, the company’s CEO and Co-founder, said.
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http://tinyurl.com/6kpnxe6 (Market Wire)
