MEDIA RELEASE PR41779
Oversi Raises $4.9 Million of Funding
PETACH TIKVA, Israel, Oct. 19/ PRNewswire-AsiaNet / --
- Funding to boost Oversi's growth and penetration to new markets
Oversi, the global leader in OTT Internet Video and P2P caching
solutions, announced today that it has completed a new investment round,
totaling US$ 4.9 million, led by Carmel Ventures together with Cisco(R), smac
partners and StageOne Ventures.
Oversi offers a breakthrough OTT caching and content delivery
platform which enables operators to deliver the highest quality Internet
Video experience to their customers while saving on OPEX and CAPEX. Oversi's
video cache and P2P cache solutions enable service providers to cope with the
huge traffic load on their networks while significantly improving
subscribers' QoE (quality of experience). The platform is based on Oversi's
unique out-of-band architecture allowing hierarchical deployment for the
highest OTT cache performance, offering maximum flexibility and scalability.
David Tolub, Oversi's President and CEO, said: "We have recently
won several new strategic accounts, including several large Tier 1 operators.
Caching has become a basic requirement for operators wishing to reduce
expenses while enhancing QoE (Quality of Experience). Our Out-of-band
technology has been endorsed by the industry as the solution of choice for
fixed and mobile service providers, and our caching system, OverCacheTM is
delivering tens of Gbps of Net Cache Out. This additional funding will allow
Oversi to go to the next step in our strategy - enabling fixed and mobile
operators to offer assured QoE (Quality of Experience), valuable tiered
services and content. I am extremely pleased with this new funding and vote
of confidence by our investors."
Avi Zeevi, General Partner of Carmel Ventures, said: "OTT Video
has become an important aspect of network quality and an opportunity for
monetization. With the exponential growth of video traffic, operators are
being forced to invest in network upgrades to meet customer demand. Mobile
operators are searching for delivery optimization, while Telcos are already
combining OTT and managed content (VoD and IPTV) into one competitive
offering. Oversi's caching and content delivery solutions are a cornerstone
to the current and future challenges of operators. With a tremendous track
record, an excellent management team and determined technology experts,
Oversi is positioned for growth and success."
About Oversi
Oversi offers a breakthrough multi-service platform for
accelerating delivery of OTT (over-the-top) content, including Internet
video, peer-to-peer (P2P) and other media applications. Oversi's video cache
and P2P cache solutions enable service providers to cope with the huge
traffic load on their networks while significantly improving subscribers' QoE
(quality of experience). By assuring QoE, Oversi's solutions open up new
monetization opportunities and facilitate the delivery of tiered services,
increasing ARPU (average revenue per user). Oversi systems are deployed in
service provider sites around the world. The Company has offices and
representatives in EMEA, the US, Asia-Pacific and Latin America. For more
About Carmel Ventures
With more than $600 million currently under management, several
successful exits, and a growing portfolio of promising start-ups, Carmel is
among Israel's top-tier venture capital funds. Carmel's investments are
focused primarily on early stage companies in the fields of software,
communications, Internet, digital media, semiconductors, and consumer
electronics. Founded in 2000 by veterans of the Israeli high tech industry,
Carmel provides significant capital and active, hands-on support through the
growth cycle of its portfolio companies and is recognized as a true company
building fund in Israel. Carmel, headquartered in Herzliya, Israel, is an
affiliate of the Viola Partners Group, a leading innovative private equity
investment group with close to $2 billion under management focused on
technology-based investment opportunities in Israel. For more information
Media Contact:
Gilad Peleg,
VP Marketing & Business Development
Oversi
Tel: +972-77-333-7759
Cell: +972-54-4225516
Fax: +972-3-542-3165
Email: giladp@oversi.com
SOURCE: Oversi
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