Oversi Raises $4.9 Million of Funding
Funding to Boost Oversi's Growth and Penetration to New Markets
PETACH TIKVA, Israel, October 18, 2010 /PRNewswire/ -- Oversi, the global leader in OTT Internet Video and P2P caching solutions, announced today that it has completed a new investment round, totaling US$ 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."
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 information, please visit our web site, http://www.oversi.com.
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 visit http://www.carmelventures.com
Media Contact: Gilad Peleg VP Marketing & Business Development Oversi Tel: +972-77-333-7759 Cell: +972-54-4225516 Fax: +972-3-542-3165 Email: email@example.com
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