Digital Envoy, the Leader in Internet Content Geo-Targeting And Intelligent Routing, Announces $10.5 Million Financing
Atlanta, GA - July 23 - Global Internet infrastructure provider, Digital Envoy, today announced it has secured $10.5 million in financing from a syndicate of investors including Frontier Capital, Cordova Ventures, CrossBow Ventures and other strategic partners to be announced soon.
Digital Envoy's first line of products is a Web-mapping technology called NetAcuity that can determine the geographic location and connection speed of any machine on the Internet. NetAcuity correlates user location and Internet connection speed data with over 99 percent accuracy at the country level. Digital Envoy's next generation Emissary product will utilize the company's patent-pending RealPath technology, allowing enterprises to optimize network performance by routing users via a real-time, quickest-path analysis. Digital Envoy's customers include many Global 2000 and leading technology companies such as Cable & Wireless, iBeam, AOL Time Warner, Network Associates, 24/7 Media and CinemaNow. In addition, the company has a global technology partnership with Siemens AG.
"Raising significant capital from leading venture and strategic investors, especially in this market, is a testament to the value Digital Envoy provides its customers," said Sanjay Parekh, Chief Strategy Officer, co-founder of Digital Envoy. "Digital Envoy has proven that it is the leader in the geo-targeting space and this additional funding will enable us to target additional markets, such as the intelligent routing market, with new powerful technology," said Rob Friedman, Executive VP of Corporate Development and co-founder of Digital Envoy.
According to Andrew Lindner, partner with Frontier Capital, which led the funding, "We invested in Digital Envoy primarily because the company is in a hyper-growth market, has a strong management team and a track record of performance as illustrated by its growing client base. Nearly all websites and many other applications can benefit from NetAcuity due to the technology's ability to pinpoint the location of an internet user and serve up localized advertising, content, store locations, language, currency as well as streaming audio and video. For example, what Global 2000 company wouldn't want to serve up the appropriate version of its website depending on the origin of the request? Beyond customizing one's website, the applications of geo-intelligence are boundless, from security and fraud protection to regulatory compliance and digital rights management. Furthermore, we are very excited about the potential that Emissary has to revolutionize the global traffic management market."
"As broadband becomes the norm, the need for Digital Envoy's technology will continue to increase as a way to address bandwidth and digital rights management issues," said Tom Hawkins, Partner at Cordova Intellimedia Ventures Fund. "Cordova prides itself on being actively involved in growing the business of its portfolio companies, and our investment in Digital Envoy is just the first step in what we are sure will be a successful long-term partnership. We look forward to working with Digital Envoy to build a solid foundation for future growth, product development and continued customer acquisition."
"Today's market rewards companies that have a track record of revenue, a diverse client base, strategic channel partners and proven technology," said Ravi Ugale, Partner with CrossBow Ventures. "Digital Envoy has not only weathered, but thrived in its marketplace despite a slowing economy. We are excited to be part of a team that will chart a course for the company's future."
About Digital Envoy
Digital Envoy is the leader in geo-intelligent
solutions and RealPath intelligent routing for the Internet.
Digital Envoy's NetAcuity product is the recognized industry-standard
in geo-targeting, allowing customers to target and restrict Web content
on a geographic basis, worldwide, down to a city-level. Digital Envoy's
next-generation Emissary product will utilize its patent-pending
to allow enterprises to optimize network performance by routing users to
globally dispersed content servers using real-time, quickest path
analysis. Digital Envoy is headquartered in Atlanta, Georgia and
has an office in San Francisco, California. For more information,
About Frontier Capital
Frontier Capital is a $45 million venture
capital fund based in Charlotte, NC. The fund is focused on investments
of $1,000,000 to $3,000,000 in high growth companies located in the
Southeast and Mid-Atlantic Regions. The founding partners of Frontier
are Paul Stackhouse, Richard Maclean and Andrew Lindner. For additional
information visit the Company's web site www.frontierfunds.com.
About Cordova Ventures
Cordova Ventures, founded in 1989,
is an Atlanta-based venture capital firm representing approximately
$270 million under management in seven funds and is one of the most
experienced firms in the Southeast. Cordova invests in seed, start-up
and early-stage opportunities in areas such as information technology,
industrial and manufacturing technologies, communications, financial
services, life sciences and general healthcare. For additional information
visit the Company's web site www.cordovaventures.com.
About CrossBow Ventures
CrossBow Ventures, located in West
Palm Beach, Florida, manages $160 million through its two venture
capital funds, and leads investments in the Southeastern United States,
co-investing across North America with strong institutional partners
in technology, telecommunications, life sciences and financial services/transaction
processing companies. For more information about CrossBow Ventures
or its portfolio companies, visit the Company's web site at www.cb-ventures.com or
contact Susan Delz at 561-838-9005.