Oversi Announces Funding from Cisco1
Petach Tikva, Israel, June 11th, 2007: Oversi, an expert in Peer-to-Peer (P2P) caching and content delivery solutions, announced today it has received funding from Ciscoֲ® as part of an extended second round of funding, totaling $8 million, led by Carmel Ventures together with StageOne Ventures and TempoPark Fund (advised by smac partners).
The additional investment funds will be used to expand Oversi’s sales and distribution channels, and global operations, and will help fund the development of new products in the P2P streaming and delivery space.
Joav Avtalion, Chairman and CEO of Oversi, said: "We see Cisco’s investment as an exciting milestone for our company, helping us to grow our business in line with the fast-evolving world of online video and P2P content distribution. With so much video and TV on the Internet, bandwidth is becoming the key issue. Using our P2P solutions, service providers can deliver up to 20 times more bandwidth using their existing infrastructures, instead of investing billions of dollars in expensive upgrades." Avtalion continued, ג€We look forward to a fruitful and continued collaboration with our investment partners."
Avi Zeevi, General Partner of Carmel Ventures, added, ג€The addition of Cisco to the existing investors of Oversi reinforces the importance of the market for clearing P2P traffic congestion on service provider networks.ג€
Oversi is an expert in Peer-to-Peer (P2P) caching and content delivery solutions. Oversi’s P2P caching solutions enable service providers to deliver more bandwidth on their existing infrastructures, optimize network performance and defer expensive upgrades. The same Oversi platform provides a critical building block for supporting the emerging services of P2P VOD (Video on Demand) and P2P TV, ensuring an improved customer experience. Oversi has offices and representatives in EMEA, the US, Asia-Pacific and Latin America. 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.