Indus River Networks, a developer of award-winning virtual private networking (VPN) solutions for the worldwide enterprise market, has announced that it has completed its third round of financing, securing more than $14 million. Novell, MCI WorldCom Venture Fund joined Comdisco Ventures and Indus River`s existing investors, Canaan Partners, NEA, One Liberty Ventures, and Ascent Venture Partners, in this round of financing.
Indus River Networks is a leading VPN company with a vision that a new networking architecture and product platform is required to enable enterprises to use public network resources for intelligent remote networking, subject to private network policies. Its premiere product, RiverWorks, is an end-to-end remote access system with unique policy management elements that provide unparalleled operational control and support for large-scale and diverse remote user communities.
"Indus River has clearly cracked the code in the VPN product market. With its RiverWorks platform, Indus River has proven that it can design, install, and rapidly deploy a production enterprise-class VPN," says Susan Mayer, President of MCI WorldCom Venture Fund. "Indus River will help enterprise customers save money and gain networking flexibility by moving from legacy remote access networks to VPNs based on UUNet and other ISP services."
"Of all the VPN solutions out there, Indus River`s unique user-centric approach to intelligent remote access with comprehensive policy management is the one that most closely complements and leverages our directory-enabled networking philosophy," says Chris Stone, Novell`s senior vice president of strategy and corporate development.
"Novell and MCI WorldCom will help position us to take a leading role in the critical phase the VPN market is entering -- making production virtual networks a reality," says Per Suneby, Indus River`s CEO. "Today, more and more enterprises are realizing that they need to Internet-enable their companies to survive and prosper."
The $14 million third round brings Indus River`s total funding to more than $28 million. A new feature of this latest round of financing is a multi- million dollar credit arrangement with Comdisco to provide the necessary financial resources for Indus River`s accelerating business growth.
Recognized by PC Week as one of the 15 Companies to Watch in 1999, Indus River Networks is a leading developer of intelligent remote networking solutions that address the scalability, security, dependability and policy management requirements of large corporations worldwide. Named as one of the "1999 Hot Products" for WAN remote access by Data Communications, the company`s RiverWorks Enterprise VPN product suite provides unparalleled performance and ease-of-use capabilities for large-scale deployment of policy enabled virtual private networks. For the latest information on Indus River`s innovative technologies and products, visit the company`s web site at www.indusriver.com. The company is headquartered in Acton, Massachusetts.
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