• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Procera Networks Raises $6 Million

Posted on: Wednesday, 1 March 2006, 12:00 CST

Procera(R) Networks, Inc. (OTC BB: PRNW), a pioneering developer of optimized, intelligent networking and application driven, converged platforms, today announced the sale of $6 million of the company's restricted common stock to a group of investment firms and individual investors.

Procera will use the funds to accelerate marketing, sales and development for its new OptimANA(TM) CP3600 application-driven networking platform, which integrates Procera's OptimIP(TM) patent-pending intelligent networking engine with a standard Intel CPU-based server in a tightly integrated software and hardware architecture within a single form factor. The OptimANA CP3600 platform enhances the performance, security and scalability of server-based applications for secure access, traffic management, provisioning and other networking and security requirements. The convergence of Procera's open application-oriented networking platform with server-based software solutions promises the customer an unprecedented combination of much-improved throughput, enhanced security and lower costs of IT operations.

"Procera Networks is leading the way in the new open application-driven networking paradigm, and this funding is indicative of the financial community's recognition that Procera is a leader in this rapidly emerging market," said Doug Glader, CEO of Procera Networks. "We believe Procera's innovative approach to application-driven networking solves real problems for network-centric software application and appliance providers. Procera's CP3600 products greatly enhances such providers' existing offerings by increasing throughput to end users and lowering the costs of delivering network and applications services. Procera's CP3600 products accomplish this by allowing software solutions providers to integrate their software with wire-speed smart switching through a highly efficient XML-based policy engine."

To enable network-centric application developers to integrate their offerings on Procera's OptimANA CP3600 platform, Procera will make available its open OptimANA XML application programming interface (API), which provides easy-to-use programming access to Procera's OptimANA platform and policy engine.

Procera is working with several partners to develop complete end-to-end solutions. Procera's OptimANA architecture and new OptimANA CP3600 systems have been validated by several new members of Procera's alliance program, including PortWise, a developer of multi-factor authentication SSL VPN secure application access software, Netintact, a developer of modular traffic management systems, and SolutionInc, a developer of high-speed Internet provisioning, authentication and billing software. Procera has created significant momentum with these partners and the funding announced today will be pivotal in expanding these initiatives as well as to finance continued product development.

About Procera Networks, Inc.

Founded in 2001, Procera Networks, Inc. is a global provider of networking infrastructure equipment. Procera's OptimIP(TM) family of intelligent network appliances enables businesses to dramatically reduce the total cost associated with networking, security and compliance. With Procera appliances, an enterprise can improve the efficiency of mission-critical applications (QoS), control how and what data is transported through the network, and determine which employees or workgroups can access data or specific applications. Procera's new OptimANA(TM) Convergence Platform Series enables systems developers to easily integrate wire-speed, application-oriented intelligence to extend the market reach of their existing server-based software, security gateways and network appliances. More information on Procera Networks, Inc. can be found at http://www.proceranetworks.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan,""confident that,""believe,""scheduled,""expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC (Securities and Exchange Commission) from time to time.

NOTE: Procera is registered trademark and OptimIP and OptimANA are trademarks of Procera Networks. All other names are or may be trademarks of their respective owners.

 Contact: Jeff Gigoux Procera Networks, Inc. 408.354.6736 Email: Contact via http://www.marketwire.com/mw/emailprcntct?id=D2F031F7D0DB7A64  John Liviakis (Investor Relations) Liviakis Financial Communications Inc. 415.389.4670  Steven Beedle ZNA Communications 831.425.1581 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=224A253E707CD178  

SOURCE: Procera Networks

Source: MARKET WIRE

More News in this Category