Oversi Secures $6 Million in Second-Round Funding, Led by Carmel Ventures
- Created on Tuesday, 12 December 2006 00:00
Oversi, a pioneer in Peer-to-Peer (P2P) content delivery technology, announced today that it closed a $6 million round of financing led by Carmel Ventures. Carmel is joined by existing investors – StageOne Ventures, Lab-One Innovations and TempoPark Fund which is advised by the German VC smac partners.
Avi Zeevi, Co-Founder and General Partner of Carmel Ventures, and a new Board Member of Oversi, said, “Oversi is an exciting company, offering tremendous potential in the rapidly-growing content delivery environment. With video aggressively changing the face of the Internet, P2P has become the dominant protocol for content distribution, adopted by the major media and content players. Oversi’s grid computing engines offer a powerful new paradigm, using innovative P2P technology, to guarantee highest quality delivery for legitimate video content. We believe that Oversi, with its robust patented technology and exceptional founding and management team, is well positioned to make a difference in this emerging sphere”.
Joav Avtalion, Chairman and CEO of Oversi, said today, “With this funding, we plan to actively hire over 20 Internet technology professionals to accelerate the time-to-market of our new P2P-based solutions. Our vision is to materialize a new content delivery ecosystem that correlates with the social experience on the Net. We aim to enrich the economic potential available for legitimate content owners to distribute their content and monetize it by building a new value chain, supported by international partnerships. Carmel Ventures is an excellent long-term partner for us, with its global network of strategic partners.”
Oversi was founded in 2004 by two experienced entrepreneurs, CTO, Ofer Wald, and VP Marketing and Business Development, Eitan Efron, within the facilities of Lab-One Innovations incubator. The Company is headed by Joav Avtalion, a co-founder of NICE Systems (NASDAQ: NICE). The Company’s systems are successfully implemented by Internet Service Providers worldwide.
Oversi, a pioneer in P2P content delivery technology, offers service providers a ‘New Engine for the New Internet™’. The company provides a single, scalable platform for delivering a multitude of media services, including: scalable high throughput content delivery; Internet TV and Video on Demand (VoD); online storage and back-up; personalized advertising; and community networking. Oversi’s platform is based on its patented Scalable Grid Service System (SGSS™) that is optimized to store and deliver huge amounts of internet data and traffic.
Oversi holds a unique vision for the next generation of networks by leveraging the potential of P2P for delivering video on demand and TV over the Internet. Oversi takes advantage of the benefits of distributed computation to achieve faster, more reliable, efficient and scalable content distribution, online storage and other revenue-generating services. Oversi’s architecture is set to change the economics of Internet content distribution and change the metrics for monetizing Internet traffic.
For more information, please visit www.oversi.com.
About Carmel Ventures
Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel Ventures is one of Israel’s leading venture capital funds focused on information technology with $372 million under management. Led by former entrepreneurs and executives of the software, communications and investment industries, Carmel provides active, hands-on support to its portfolio companies. Carmel, headquartered in Herzliya, Israel, enjoys a worldwide network of industry, strategic and investment resources. Carmel provides significant capital and support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. For more information, please visit www.carmelventures.com.
About StageOne Ventures
StageOne Ventures is an information and communications technology venture capital fund formed by Bezeq, the Israeli telecom, and Discount Capital Markets, the investment arm of Israel’s third-largest bank.
StageOne invests in Israeli-related telecommunications and IT start-ups, focusing on early-stage ventures based on breakthrough, next-generation technologies. For more information, please visit www.stageonevc.com.
About smac partners GmbH
smac partners GmbH (formerly Siemens Acceleration in Communications GmbH), formed in 2001 and based in Munich, Germany, is a private equity company specialised in managing venture portfolios worldwide. smac partners has a well proven track record in leading small and medium sized high-tech companies to success and in facilitating shareholder return. smac partners has currently $70 million under management. For more information, please visit www.smacpartners.com.
About Lab-One Innovations
Lab-One Innovations is a leading early-stage investor and privatized technology incubator, focusing on Information & Communications Technology (ICT) investments, and is located in the heart of Tel Aviv. Lab-One creates value to its portfolio companies, via an envelope of financial, business resources and administration support, which allows its companies to swiftly realize their potential in an optimal environment. For more information, please visit www.lab-one.co.il.