Funding from Infineon Ventures, the Intel Communications Fund, Partech International and TeleSoft Partners to fuel R&D growth and the expansion of operations in Asia, Europe and North America
SAN JOSE Calif., Sept., 8, 2003 - Jungo Software Technologies, Inc., a leading provider of residential gateway software, today announced that the company has secured $5.5 million in a third round of funding, led by Partech International and joined by Jungo's existing investors, Infineon Ventures, the Intel Communications Fund and TeleSoft Partners.
Jungo develops OpenRG)TM), a software suite that enables broadband access device manufacturers to add home networking applications and managed broadband services to cable and DSL modems, residential and small office/home office (SOHO) gateways, wireless access points, and integrated access devices (IAD). Jungo's OpenRG residential gateway software is currently integrated into access devices from tier -one vendors, such as Toshiba and U.S. Robotics, and Jungo -powered designs have already been deployed in North America and the Asia -Pacific region.
"With mass deployments of Jungo -powered gateways in 2003, Jungo has established itself as one of the major software vendors in the broadband industry," said Ofer Vilenski, co -founder, CEO and president of Jungo. "Having closed this latest funding round, we will be able to expand our R&D team and increase our presence in our major markets. This will allow us to maximize the traction we have created with the industry's leading silicon and equipment vendors and offer our customers a wider range of integrated software solutions for future gateways."
Partech's Venture Partner, Ami Amir, who is also the founder and former CEO of RADVISION, will join Jungo's board of directors and contribute his extensive industry expertise. Commenting on the closing of the funding round, Amir said:
"Jungo's success lies in the fact that they recognized early on what the broadband industry is recognizing today: that sophisticated customer premise equipment software plays a crucial role in the generation of additional revenues from broadband subscribers. With modest funding and a highly skilled team, Jungo has become a company with an impressive customer list, growing revenues, and a range of products that are recognized as some of the best in the industry. This is definitely a company that we are excited to be a part of."
Yatin Mundkur of TeleSoft added, "Jungo has consistently remained several steps ahead of the wider residential gateway market and now that this market is heating up, we are thrilled to find Jungo as the leading software vendor with the largest number of design wins. With this latest round of funding closed, we expect Jungo to continue to be a major player in the broadband industry."
OpenRG is a scalable suite of software technologies that provides customer premise equipment (CPE) vendors with the infrastructure needed to bring residential gateways, wireless access points and integrated access devices (IADs) to market faster. OpenRG includes an optimized Linux -based operating system, optional VxWorks support, communication and routing protocols, network security (Stateful Packet Inspection Firewall), wireless LAN security, Virtual Private Networking (VPN), Universal Plug and Play, web -based management, remote upgrade capabilities, support for CableHomeä -based devices and a wide range of home networking applications.
Founded in 1982, VC firm Partech International has offices in San Francisco and Paris, and manages approximately $850 million. Partech's world -class investors include: AT&T, JP Morgan, IBM, Bell Atlantic, Credit Agricole Indosuez, GTE, Merrill Lynch, Swiss Life, and AXA. Partech International's differentiators include: - International Focus: 20+ years of global investing, and assisting portfolio companies with cross -border expansion. - Industry Focus: on enterprise software and communications solutions. - Lifecycle Financing: early stage, late stage and public equity investments. Selected investments include: Ascend, Breezecom, Business Objects, Cadence, Digital Island, Informatica, and Vignette.
About TeleSoft Partners
TeleSoft Partners is a venture capital firm focused on next generation communications and high technology companies. Based in Silicon Valley, TeleSoft manages capital commitments of $625+ million. TeleSoft focuses on nine core segments: Carrier & Enterprise Networks, Routing & Switching, Server & Storage Architecture, Optical Networking, Integrated Access, Middleware & Services, Software Applications, Broadband Wireless, and Components & Tools. TeleSoft's value added network includes its General Partner Team, Senior Industry Executive Network, Corporate Partners, and Portfolio Companies. For more information, visit http://www.telesoftvc.com.
About Infineon Ventures
Infineon Ventures GmbH, the corporate venture capital arm of Infineon Technologies AG with offices in Munich (Germany) and San Jose (California), today manages a portfolio of 35 start -up companies. Since October 1998 up to date, venture capital of approximately 150 million dollars has been spent in form of minority equity investments. The investment activities are global in region and focus in industry sector on early -stage and start -up companies in microelectronics and communications. More information is available at http://www.infineonventures.com
About Intel Communications Fund
The $500 million Intel Communications Fund, managed by Intel Capital, was established in September 1999 and focuses on accelerating Intel voice and data communications and wireless networking initiatives. The fund targets companies developing basic communications and semiconductor components and boards, real -time operating systems, software tools and utilities, system level hardware and software, and wireless network services and channels. The Intel Communications Fund has made more than 80 investments in 17 countries on five continents. For more information about the fund, visit www.intel.com/capital/portfolio/funds/icf.htm
Jungo Software Technologies is a leading supplier of residential gateway software solutions, driver development tools and hardware access applications. Jungo offers integrated reference designs with several of the most influential global silicon vendors, enabling its customers to simplify device development cycles, improve performance and accelerate time to market. Jungo is a privately held company with corporate offices in San Jose, California, sales and support offices in Taiwan and an R&D center in Israel. Founded in 1998, Jungo's investors include Infineon Ventures, Intel Communications Fund, Partech International and TeleSoft Partners. Find out more at www.jungo.com