Cotendo raises $12 Million in Series C financing
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Bangalore: Cotendo, the Sunnyvale-based CDN and Site Acceleration services provider, has raised $12 Million in Series C financing round which is led by Tenaya Capital and also joined by its current investors - Sequoia Capital and Benchmark Capital. According to the company, this latest round of funding will be used to scale its domestic and international market expansion, as well as accelerate the development of innovative technology. "This investment round is another strong validation for our unique innovation and the business momentum we have experienced since launching our CDN and site acceleration suite," said Ronni Zehavi, Cotendo's Co-founder and CEO. "We look forward to using this new capital infusion to drive further rapid growth." Also, Jag Setlur is the CFO of the company. Also, with the new financing Cotendo recently opened a local presence in France and Germany. In addition, the company has added several new customers to its rapidly growing U.S. customer roster in the last few months. These include Digg, Meebo, Payoneer and Adbrite. Founded in 2008, Cotendo's comprehensive CDN and Site Acceleration Suite includes high-performance acceleration of dynamic and static content, intelligent load balancing, performance monitoring, real-time reporting and more. The Cotendo suite significantly improves the ability of Internet content providers - including high-volume transactional enterprises, online retailers, financial services companies, advertising networks, professional news and social media sites -- to offer fast, secure and reliable 'whole site' acceleration of both static and dynamic content to online customers and site visitors. By improving web site performance and reliability, the Cotendo suite enhances the user's experience, increases site conversions and loyalty, and enables businesses to achieve a greater investment return on their web presence. Along with this financing round, Cotendo also announced that Tom Banahan, Managing Director of Tenaya Capital, will join the Cotendo board of directors. "We see Cotendo's technology as game-changing in this market, and we are excited to contribute to the company's advance to the next level with their site acceleration services," Banahan said. "We are enormously impressed with Cotendo's vision and execution and with the results they have accomplished since the company was founded.

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