| [October 28, 2005] |
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CloudShield Technologies Secures $10 Million in Additional Funding to Fuel Momentum; Additional Capital Signals Investor Confidence in Company's Technology and the Market Opportunity for Programmable Deep Packet Inspection Platforms
SUNNYVALE, Calif. --(Business Wire)-- Oct. 28, 2005 -- CloudShield(R) Technologies, Inc., the leader in programmable deep packet inspection platforms for security, VoIP, and traffic management applications, today announced $10 million in additional funding with current investors TPG Ventures, ComVentures, Foundation Capital, and Paladin Capital all participating. The added capital, which will be used to fuel market momentum, emphasizes investor confidence in CloudShield's technology and market opportunity.
The funds will be used to drive further adoption of the CS-2000 high-speed deep packet inspection (DPI) platforms by service providers and Federal Government agencies, and to support the company's growing base of customers, application developers, and solution integration partners.
CloudShield's opportunity with service providers stems from the CS-2000 platform's ability to help them develop custom packet processing applications to support emerging content-based services, and to deploy an infrastructure that provides them with an ability to quickly and easily differentiate service offerings now and into the future. CloudShield's opportunity with federal government agencies comes from the government's requirement to harden their network security offerings by combining commercial-off-the-shelf (COTS) solutions with government funded and specified solutions. As with the service provider solutions, the CloudShield platform delivers the packet processing capacity, application flexibility, and performance to enable government to quickly address these requirements.
"On a recent tour to meet with CloudShield service provider customers and prospects in Europe, I was pleased to find great enthusiasm for the CloudShield offering," said Steve Foster, managing director, TPG Ventures. "Carriers are embracing the idea of building their own packet handling applications to facilitate new services, and are currently designing network architectures to enable these new services. The fit and timing of CloudShield products is perfect for participating in these opportunities."
In September of 2004 CloudShield delivered its third generation flexible packet processing platform, the CS-2000, offering up to 5 gigabits of throughput and high-speed WAN interfaces in a 2RU chassis. Just 12 months later, the CS-2000 boasts over 30 network applications either available or in development by solutions providers, systems integrators, and end users.
"CloudShield's partners have successfully introduced solutions into their respective markets and production roll-outs are underway across many application spaces," said Matt Jones, CloudShield president and CEO. "These applications include Voice over IP processing and security, Denial of Service Mitigation services, and a Multi-level Security Guard to name a few. The wide range of applications is a testament to the CS-2000's versatility, and the ease at which solutions provider can build applications for it. And the list will continue to grow, because second and third application opportunities are typically uncovered once prospects are converted to customers."
About CloudShield
CloudShield is a provider of multi-gigabit, multi-function, programmable, deep packet inspection platforms targeted at large network operators. The company's unique capabilities allow existing content inspection, monitoring, and security applications to be performed at true gigabit speeds on even small packet sizes, and enables entirely new classes of applications and revenue generating services. The CloudShield platform can inspect, process, and modify packets at multi-gigabit speeds without introducing noticeable latency. Through its application partners, CloudShield has helped deliver solutions to carriers in North America, Europe and Asia as well as several important federal government customers. More information about CloudShield can be found at www.cloudshield.com.
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