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Napatech Receives USD 7.5 Million Venture Capital Funding
Published: Wed, 07 Mar 2007, 17:15:00 GMT
COPENHAGEN, Denmark and MOUNTAIN VIEW, Calif. - Mar. 7 (SEND2PRESS NEWSWIRE) -- Napatech today announced the investment of USD 7.5 million from existing investors Ferd Venture and Northzone Ventures. Napatech is the market leader in programmable high-speed Ethernet network adapters.
 "We are very pleased with the acceptance that Napatech has achieved in the market since our acquisition of the Xyratex adapter business one year ago, internally the acquisition has also been a smooth ride," says Henrik Brill Jensen, CEO, "This new substantial funding allows us to further profit on the market interest shown in our products and to accelerate our world wide sales efforts."
Napatech's solutions enable OEM customers to scale network monitoring appliances, traffic analyzers and recorders, testers and security products to the rapidly growing Ethernet speeds and traffic load. The solutions enable many applications by offloading CPU/memory and bus architectures.
"The Napatech product portfolio of both 1Gb and 10Gb adaptors and the strong market presence especially in the USA enterprise market, positions Napatech ideally to move into new interesting areas like the government sector for security & traffic monitoring solutions alongside its current market segments," says Bjorn Erik Reinseth, partner in Ferd Venture. "The new funding is aimed at increasing the sales presence in several geographies and to secure that our valued OEM customers can continue to be served with world class support even during the rapid growth ahead."
"Having supported Napatech since the inception I am personally pleased that Napatech has made it to market leadership in intelligent network adapters, and it is extremely satisfying to enable customers to scale their solutions and reinforce their market leadership," says Gregers Kronborg, general partner in Northzone Ventures. "I would like to congratulate the whole Napatech team with the achievement, and at the same time challenge them to address new opportunities with OEM customers being the leaders within their respective application solutions."
Napatech's product portfolio includes 1Gb and 10Gb platforms that offer real-time deep packet inspection solutions for network management, traffic analysis and recording, security applications and a toolbox enabling customers to implement their own proprietary intellectual property on the network adapter.
The round was led by existing investors Northzone Ventures and Ferd Venture. The employees and invited investors with relations to Napatech will also be invited to invest on the same conditions as the lead investors.
About Napatech
Founded in 2003, Napatech develops, produces and markets programmable and intelligent Ethernet adapters. The core idea is off-loading real-time/streaming traffic and payload analysis and control applications traditionally implemented in software or proprietary hardware. Napatech experience a huge growth in the demand for intelligent and programmable adapters as Ethernet speeds increase. The current PC architecture limits the amount of bandwidth that can be handled by the PCI bus and CPU/memory. Napatech offers its products to OEM customers. In 2006 Napatech acquired and successfully integrated the network adapter business of Xyratex (Nasdaq: XRTX). Napatech has marketing and R&D offices in Mountain View, California and Copenhagen, Denmark. Napatech is a 2004 Tornado100 Winner. Napatech is funded by Northzone Ventures, Ferd Venture, SeedCapital and a group of business angels with vast experience within networking.
For further information, please visit www.napatech.com.
About Ferd Venture
Ferd Venture is part of the Ferd Group, which is one of Norway's leading investment companies. Ferd Venture primarily invests in Nordic ICT companies that are seeking capital for further commercialisation and growth, and which have the potential to sustain long-term competitive advantage. Ferd Venture has a team of 6 investment professionals based out of offices in Oslo, and has significant funds available for new investments. The current portfolio consists of 11 companies: Affitech, Bone Support, Cinevation, Colibria, HELP Forsikring, Marical, Mohive, Nacre, Napatech, Ship Equip and Vensafe.
For further information, please visit www.ferdventure.no.
About Northzone
Northzone Ventures, a leading Nordic technology VC, was established in 1996. Northzone Ventures consists of 11 people and offices in Copenhagen, Stockholm and Oslo. Northzone is actively engaged in about 25 Scandinavian technology companies. Current and past portfolio companies include Pricerunner, Asetek, Enigma Semiconductor, Speakanet, Funcom, Lastminute.com, Revolt, Mamut, Nextgentel, Stepstone and Trolltech.
For further information, please visit www.northzone.com.
For additional information please contact:Copenhagen, Denmark, Europe
Henrik Brill Jensen, CEO
+45 4596 1500
hbj @napatech.com
Northzone Ventures, Denmark
Gregers Kronborg, General Partner
+45 70 222 475
kronborg @northzone.com
Ferd Venture, Norway
Bjorn Erik Reinseth, Partner
+47 990 22 000
ber @ferd.no
Mountain View, California, US
Thomas Jorgensen, Co-Founder/VP Sales
+1 650 353 5845
tj @napatech.com
Napatech is a trademark used under license by Napatech A/S. All other logos, brand names and product names are trademarks of their respective companies.
Text provided by the news source.
NEWS SOURCE: Napatech Inc.
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REFERENCES: Napatech Receives USD 7.5 Million Venture Capital Funding, Napatech Inc, programmable and intelligent Ethernet adapters, Henrik Brill Jensen, OEM, network monitoring appliances, traffic analyzers and recorders, testers and security products, 1Gb and 10Gb adaptors, Bjorn Erik Reinseth, Northzone Ventures, Mar 7, 2007.
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