Crescendo Networks Raises $9.5 Million in Third Round

Menlo Park, Calif. -- Crescendo Networks, an Israeli developer of application acceleration technologies that late last year moved its North American headquarters from Florida to Menlo Park, said on Wednesday that it has raised $9.5 million in its third round do funding. New investor The Challenge Fund - Etgar II joined previous investors Evergreen Venture Partners, Apax Partners, Magma Venture Partners, StageOne Ventures and Convergent Capital in the round, which increased the company's total backing to $36.2 million. Adoram Ga'ash, the company's chairman and CEO, said that the round will help expand the company's worldwide operations in preparation for new product rollouts. "Therefore, finding a perfect fit to help fund these operations was essential," said Ga'ash. Crescendo's technology is designed to improve the operation of application infrastructure. Clients include Aeropostale, Colgate, Friendster and ICBC.
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