Highwinds Raises $55 Million
Highwinds Raises $55 Million
General Catalyst Partners and Alta Communications provide equity funding for build-out of Highwinds' RollingThunder network
WINTER PARK, FLORIDA, USA - March 11, 2008- Highwinds Network Group, Inc., a multi-platform IP services and content distribution provider, today announced it has closed a $55 million round of equity financing led by General Catalyst Partners and Alta Communications. The financing will fund the infrastructure build-out of Highwinds' RollingThunder™ network, including a content delivery network offering.
Highwinds' RollingThunder network was unveiled today in conjunction with an announcement of a partnership between Highwinds, Digital Rapids Corporation and Knack Networks to create advanced IPTV solutions for the vast market of professional media companies worldwide.
"Having attracted top-tier investors, we can accelerate our ability to meet the rapidly growing demand for innovation in the market for IP services and delivery of rich media content," said Steve Miller, Highwinds' President and Chief Executive Officer. "We are well-capitalized to bring an unparalleled infrastructure solution to market for service providers, corporations, content owners and other organizations implementing IP services, content delivery and other strategies to increase revenue and profitability, improve customer relations, enhance competitive position, expand market share and achieve other key business goals."
"Highwinds has already proven its mettle -- with a years-long track record of success marked by solid revenue growth and profitability," said Neil Sequeira, a Partner at General Catalyst Partners. "We are excited to provide the capital infusion that will enable them to advance to the next level with their content delivery solutions and other RollingThunder network-based services
"In my years of focusing on all sectors of media, it's clear that Highwinds has fielded an outstanding executive management team -- one with the knowledge, experience and vision to be a market leader," said Andrew Mulderry, General Partner at Alta Communications. "We have invested in a portfolio of best-in-class new media companies, and Highwinds fits superbly into that ecosystem as a supplier and partner to our other investments."
About Highwinds Network Group, Inc.
Highwinds has been a leader in the development of content replication and delivery software and services since 2002. This experience has led to a number of technology innovations in network management, distributed file system technology and advanced content routing methods. The Highwinds CDN leverages best-in-class hardware and software to quickly and successfully move content at a global level. The company's high-performance RollingThunder™ network and user-friendly StrikeTracker™ content management and reporting dashboard enable clients to deploy and manage content, file downloads and streaming media. Highwinds is headquartered in Winter Park, Fla., and maintains data centers in thirteen North American and European cities. For more information, visit www.highwinds.com.
About General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass. For more information on General Catalyst Partners, please visit www.generalcatalyst.com.
About Alta Communications
Alta Communications is a Boston-based private equity firm specializing in equity investments in media and communications companies. Through a series of Alta limited partnerships, as well as at Alta's predecessor firm, Burr, Egan, Deleage & Co., the investment professionals at Alta have been one of the most successful investment teams in the media and communications industries over the last 25 years. Alta has a very successful track record and has been extremely active since its founding, having invested in over 100 media and telecommunications companies. The firm manages private equity funds representing $1.5 billion in committed capital and its investors include some of the world's most prominent university endowments and pension funds. For more information on Alta Communications, please visit www.altacomm.com.
RollingThunder and StrikeTracker are trademarks of Highwinds Network Group, Inc.