Riverbed does it again

Filed in archive Venture Capital on January 12, 2005

Riverbed the company I liked so much a year ago has secured another US$20 million.

"Riverbed Technology Inc., which makes wide-area file services (WAFS) appliances, announced $20 million in third-round funding today, bringing its total to $38 million"

The company seems to have had a stressful year but stellar performance:

"The lead investor in this round was Goldman Sachs, with follow-on investments from Accel Partners, Lightspeed Venture Partners and UV Partners who participated in the company's first two rounds of financing. Riverbed has raised a total of $37 million."

"2004 has been an absolutely fantastic year for Riverbed," said Jerry M. Kennelly, President and CEO, Riverbed Technology. "Not only did we introduce our first product in May of this year, in the eight months since then we've sold it to over seventy enterprise customers, and we have more than 500 units deployed on six continents. We are seeing strong and broad demand for our solutions in many vertical markets around the world, markets as diverse as energy, manufacturing, financial services, chemicals, professional services, architecture, and many others. We have strong industry partners like EMC, HP, Microsoft and IBM, and we're expanding very quickly."

Seems the technology is disruptive enough for these clients.