CacheLogic Close to Announcing $25M in New Funds
CacheLogic, provider of a hybrid cache delivery network that utilizes peer-to-peer technologies, is close to announcing a new round of funding, according to Phill Robinson, who took over as chief executive of the company in August.
The new investment will total around $25 million, Robinson tells us, adding to the $27 million the company has raised in three previous rounds of funding. This round will involve existing investors 3i Plc, Amadeus Capital Partners, Pentech Ventures and The Cambridge Gateway Fund. CacheLogic’s pending funding is yet another sign that the venture capital community continues to be enamored with the CDN business, largely due to the explosive growth in online video.
Edgecast and Grid Networks recently announced big-ticket financings as well. And VeriSign is rumored to have put its P2P-CDN business (Kontiki) up for sale over worries about the CDN price wars.
CacheLogic has been around for about three years, a period of time that has seen it undergo a bit of a transformation. Robinson says that while the U.S. market remains highly competitive, he sees big opportunities in international markets. With a global network almost complete, he thinks Europe, Asia and Latin America could be high-growth markets for the Cambridge, UK-based company.
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© 2009 The GigaOM Network. Marketing consulting by ACS.
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[...] for CDNetworks Another day, another CDN getting a big cash infusion. Earlier this week we had reported that Cachelogic was close to finalizing a $25 million investment. And now there is news that Seoul, South Korea-based CDNetworks is getting [...]
[...] Confirms $25 Cash Infusion; company closes fourth round of funding (Om had the scoop on this last month), bringing total to $50 million, also sets up deal with BBC. (The Business of Online [...]
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