Speedera Networks Receives $20 Million in Additional Venture Funding

Signals Vote of Confidence in Company's Management Team, Business Model

And Unique Service Offerings



Apr 04, 2001, 01:00 ET from Speedera Networks, Inc.

    SANTA CLARA, Calif., April 4 /PRNewswire/ -- Speedera Networks, Inc., the
 world's first provider of integrated streaming media, web content delivery,
 failover and global load balancing services for the Internet, announced today
 that it has received $20 million in additional venture capital financing from
 a prestigious group of investors led by Continuum Group Ltd, with
 Banc of America Securities LLC, a subsidiary of Bank of America Corporation
 (NYSE:   BAC), Balanced Growth Fund, Comdisco Inc. (NYSE:   CDO), Deutsche Bank
 AG, Hewlett-Packard Company (NYSE:   HWP), Industry Ventures,
 Oracle Corporation (Nasdaq:   ORCL), Palo Alto Investors and Trinity Ventures
 also participating.
     "Speedera's superior technology, innovative business model and roster of
 satisfied Fortune 500 customers led to our success in raising funds in a tough
 financial market," said Ajit Gupta, chief executive officer of Speedera
 Networks.  "With the completion of this round, the company is now fully
 funded.  This will take us to the cash flow positive stage and put us on the
 IPO path.  The company's focus will now aggressively turn to expanding into
 new services, new partnerships and new markets, both domestically and
 internationally."
     "We are delighted to add Speedera to our network of portfolio companies.
 We believe their complementary suite of services represents a cost effective
 solution for business customers who depend on the reliability and performance
 of their web sites," said Jean-Francois Astier, partner and founder of
 Continuum Group.  "We are particularly excited about being Speedera's partner
 as they increase their focus on the European market."
     Kevin Trosian, research analyst for Banc of America Securities, added "We
 believe Speedera's solution highlights the importance of accessing content
 from the edge of the network.  Today, corporations and service providers are
 looking for solutions that reduce overhead and provide a tangible ROI.
 Speedera's solution, in our opinion, offers enterprises and content providers
 a service that can cut bandwidth and server costs."
 
     About Speedera Networks
     Speedera Networks, Inc. is an Internet infrastructure services company
 that provides managed services for improving enterprises' web presence through
 superior performance, quality, availability and scalability, while reducing
 costs.  The company's edge delivery network is deployed in over 20 countries
 worldwide with connectivity to over 200 carriers' networks.  Speedera's
 Universal Delivery Network features a unique set of next generation streaming,
 content delivery, failover and global load balancing services, all based on a
 common global traffic management infrastructure.  The company's customers and
 partners include Global 2000 companies, service providers, web hosting
 providers and other organizations worldwide.  Speedera Networks is located at
 4800 Great America Parkway, Santa Clara, CA, 95054-1227.  For more information
 about Speedera, please call 877-901-7794 (toll free in the USA) or
 408-970-1500, visit http://www.speedera.com or e-mail info@speedera.com.
 
 

SOURCE Speedera Networks, Inc.
    SANTA CLARA, Calif., April 4 /PRNewswire/ -- Speedera Networks, Inc., the
 world's first provider of integrated streaming media, web content delivery,
 failover and global load balancing services for the Internet, announced today
 that it has received $20 million in additional venture capital financing from
 a prestigious group of investors led by Continuum Group Ltd, with
 Banc of America Securities LLC, a subsidiary of Bank of America Corporation
 (NYSE:   BAC), Balanced Growth Fund, Comdisco Inc. (NYSE:   CDO), Deutsche Bank
 AG, Hewlett-Packard Company (NYSE:   HWP), Industry Ventures,
 Oracle Corporation (Nasdaq:   ORCL), Palo Alto Investors and Trinity Ventures
 also participating.
     "Speedera's superior technology, innovative business model and roster of
 satisfied Fortune 500 customers led to our success in raising funds in a tough
 financial market," said Ajit Gupta, chief executive officer of Speedera
 Networks.  "With the completion of this round, the company is now fully
 funded.  This will take us to the cash flow positive stage and put us on the
 IPO path.  The company's focus will now aggressively turn to expanding into
 new services, new partnerships and new markets, both domestically and
 internationally."
     "We are delighted to add Speedera to our network of portfolio companies.
 We believe their complementary suite of services represents a cost effective
 solution for business customers who depend on the reliability and performance
 of their web sites," said Jean-Francois Astier, partner and founder of
 Continuum Group.  "We are particularly excited about being Speedera's partner
 as they increase their focus on the European market."
     Kevin Trosian, research analyst for Banc of America Securities, added "We
 believe Speedera's solution highlights the importance of accessing content
 from the edge of the network.  Today, corporations and service providers are
 looking for solutions that reduce overhead and provide a tangible ROI.
 Speedera's solution, in our opinion, offers enterprises and content providers
 a service that can cut bandwidth and server costs."
 
     About Speedera Networks
     Speedera Networks, Inc. is an Internet infrastructure services company
 that provides managed services for improving enterprises' web presence through
 superior performance, quality, availability and scalability, while reducing
 costs.  The company's edge delivery network is deployed in over 20 countries
 worldwide with connectivity to over 200 carriers' networks.  Speedera's
 Universal Delivery Network features a unique set of next generation streaming,
 content delivery, failover and global load balancing services, all based on a
 common global traffic management infrastructure.  The company's customers and
 partners include Global 2000 companies, service providers, web hosting
 providers and other organizations worldwide.  Speedera Networks is located at
 4800 Great America Parkway, Santa Clara, CA, 95054-1227.  For more information
 about Speedera, please call 877-901-7794 (toll free in the USA) or
 408-970-1500, visit http://www.speedera.com or e-mail info@speedera.com.
 
 SOURCE  Speedera Networks, Inc.