OTTAWA, ONTARIO--(Marketwire - July 15, 2010) - IPeak Networks Incorporated today announced the closing of a Series B round of financing. Participating in the round were Miralta Capital L.P. and Arjesan II Limited Partnership and others.
"This represents more than a financing event for IPeak Networks," said Martin Horne, CEO. "It is a solid statement of confidence coming from both existing and new investors who share our vision." Horne says the financing enables the company to accelerate the development of the company's Internet Performance and Quality (IPQ) product portfolio and to ramp up the sales and marketing activities in key markets.
"In terms of our go-to-market activities, the timing of this financing is perfect," said Horne. "We will add to our capacity to respond to the explosion of interest in IPQ from video conferencing and telepresence system vendors in Asia Pacific where the high quality networks needed for visual communications applications are very costly. Our partners and customers are using IPQ to bring those costs way down." Horne says that the same holds true in EMEA where most markets are emerging from the economic difficulties of the recent past with a keen interest in optimizing the returns on their investments in visual communications technologies. "For these markets, IPQ offers additional savings on network operating costs and the ability to take high definition video conferencing into remote offices and even into executives' homes. It is a compelling value proposition."
The company has earmarked a portion of the financing to accelerate the development and launch of the new IPQ RD product line. "IPQ RD is for the virtual desktop infrastructure (VDI) market where packet loss effectively prevents virtualized desktops from running over the public Internet," said Matt Williams, company founder and CTO, and author of the patent recently granted for the technology underlying IPQ. The company said that analysts are predicting that the VDI market will be worth as much as $65 billion in the next three to four years. "We are well along with IPQ RD," said Williams. "VDI users have complained that their virtual desktops do not compare well to traditional desktops when it comes to video and multi-media. We have shown that packet loss is to blame and proven that IPQ improves the performance of all major remote display protocols."
ABOUT IPEAK NETWORKS
IPeak Networks is a privately held Canadian networking technology development company headquartered in Ottawa Canada. The company's IPQ™ products optimize IP networks for video conferencing, telepresence, and virtual computing applications. To learn more about IPeak Networks and IPQ, visit http://www.ipeaknetworks.com