London, September 13, 1999 - Orchestream announced today the
completion of its third round of private equity through a syndicate led by
Deutsche Bank and supported by Reuters and existing venture capital
shareholders. The Company has raised £10m to fund market penetration of its products into the US, Asian and European markets.
Orchestream is first to market with a software solution to one of
the biggest challenges facing the managers of Internet Protocol (IP)
networks; that is improving the performance of the information superhighway
as they become congested with ever increasing amounts of traffic.
FTSE 100-sized companies need to be able to make their networks
perform according to their business requirements. This means that they
have to be able to give priority to the applications that matter most;
usually trading or sales applications, while allowing the less critical traffic
such as web or email to be treated with less urgency.
Until now IP networks have not been able to distinguish between
different traffic types, with all getting 'Best Effort' performance.
Orchestream's first product, Orchestream/Enterprise gives network managers the
ability to prioritise traffic according to its importance, known as
Orchestream has established itself as market leader in the sector
by being first to market and winning the Best of Show award at the
Networld+Interop in Las Vegas in May 1999.
Ovid Santoro of Deutsche Bank commented, "We decided to invest in
a policy management company because we are convinced this will be one of
the key enablers to growth in the Internet. Orchestream has a deliverable
solution and being first to market to solve this network headache is
John Taysom, Director of New Business Development at Reuters, the
international news agency, added "As an early investor in
Orchestream we are particularly pleased to increase support for the company which continues to claim pole position in the race to develop Quality of Service products.
This is important to Reuters because we operate a large private
network on which we have to guarantee application performance.
Orchestream/Enterprise offers us the ability to prioritise our key traffic, ensuring that the network performs in line with business demands."
Orchestream has followed the Silicon Valley model of a business
started by a young and visionary founder who has then engaged the services of
professional management to develop the business further. Charles
Muirhead founded the company 3 years ago when he was only 21 and last year
he was joined by experienced chief executive Ashley Ward, 45. Ashley
Ward commented, "The combination of our skills gives the business the
vision of the future and the market understanding to ensure that we get
Visit the Orchestream web site www.orchestream.com or contact:
Ashley Ward Press enquiries:
CEO David Reeks
Orchestream Text 100
0171 598 7570 0181 242 4236
+44 802 300 109 0181 735 3114
Note to editors:
Founded in April 1996 by Charles Muirhead, Orchestream is a
high-growth software development company employing 50 staff at operations in
New York, California and London. The company's mission is to become the
world leader in enabling network service providers to increase the quality,
availability and reliability of their services.
This is the Company's third round of equity funding. The first
round raised £1.7m in early 1998 and the second took place in November 1998 and
raised a further £5m. The Company is backed by Deutsche Bank Ventures,
Reuters, Amadeus Venture Partners, Kennet Capital, Quester and Atlas
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