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News >> Technology >>
Ipsum Networks raises $6 million in venture funding
By siliconindia
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Thursday, 17 April 2003, 19:30 IST
PHILADELPHIA: Ipsum Networks, a developer of Internet Protocol (IP) management solutions that assure application infrastructure availability, on Wednesday announced the closing of $6 million in Series B funding from a group of leading venture capital firms. This round of funding was led by Rho Ventures of New York City, along with participation by Ipsum's original investors, Sevin Rosen Funds of Dallas, TX, and Palo Alto, CA.
Ipsum Networks provides the industry's first solution to offer complete visibility into the way IP networks really work - at the IP Layer. Using patent pending technology, Ipsum's Route Dynamics(TM) solution monitors the network's internet routing protocols to provide a real-time, Layer 3 view of IP network operations. Route Dynamics delivers a unique, comprehensive picture of the logical health of a routed network that can lead to improved service availability, operational efficiency, fault detection and prevention.
Ipsum will use this funding to expand sales, marketing and business development initiatives as well as to further accelerate production and development efforts. The Route Dynamics solution was introduced in January at the COMNET Conference and Expo, where it received the New Product Achievement Award for Return on Investment. Route Dynamics continues to receive accolades from industry leaders and customers alike as the only solution to bring actionable visibility to the IP routed infrastructure.
In conjunction with the funding announcement, Ipsum announced that Joshua Ruch, general partner at Rho Ventures, was named to Ipsum's board of directors, joining Charles Phipps, general partner at Sevin Rosen Funds; Roch Guerin, chief executive officer of Ipsum Networks; and Raju Rajan, chief technology officer of Ipsum Networks.
"Ipsum Networks provides actionable information to increase service availability, helping enterprises and service providers address IP routing faults that can severely impact the availability and performance of their application infrastructure," said Guerin. "Having the backing of top-tier firms like Rho Ventures and Sevin Rosen validates our technology approach and enables us to bring our unique solution to the marketplace at a critical time."
"We are excited to be leading this investment, as we believe Ipsum's approach to real-time IP management in the routed environment is groundbreaking," said Ruch. "The company has combined sound market vision with an experienced management team to execute this strategy, and Ipsum's unique ability to help companies address application infrastructure problems in real time will enable them to become the leader in the fast growing IP fault and service management space."