Speedera gets another round of funding
Speedera Networks Inc., a content delivery network based in Santa Clara, CA, has raised $6.5 million in additional equity funding, the company announced today. Speedera will use the proceeds to expand its sales force and international presence, and to fund acquisitions. The round was led by venture capital firm Trinity Ventures. In a separate transaction, Speedera also paid off $3 million in long-term debt, more than three years before it was due. The company reports it is now debt-free.
"Speedera`s goal is to strengthen our position as the emerging leader in the content delivery network industry," said Ajit Gupta, CEO of Speedera Networks. "With our debt-free status, operating profitability and fast-growing revenues, we are extremely well positioned to meet this goal."
Speedera reports that it increased revenues over the past year by 300%. It reported in September that it had reached profitability on an operating basis.
The company`s investors include Banc of America Securities LLC, a subsidiary of Bank of America Corp., Continuum Group Ltd, Deutsche Bank AG, Hewlett-Packard Co., Industry Ventures, Oracle and Trinity Ventures
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