NextHop Technologies Increases Funding to $24.5 Million

NextHop Technologies Increases Funding to $24.5 Million

MOUNTAIN VIEW, Calif., Dec. 7 /PRNewswire/ -- NextHop Technologies(R) Inc., the definitive source for network software solutions, today announced that it has increased its funding, bringing the total amount raised to date to $24.5 million. The most recent financing was led by Duchossois Technology Partners, and included all of NextHop's previous investment partners: New Enterprise Associates, Labrador Ventures, and Parker Price Venture Capital.

"We are very excited about our investment in NextHop Technologies and share their vision of how the networking industry is evolving. In conjunction with this investment, we combined the wireless software from Legra Systems with NextHop's networking platform to further support this vision," said Dan Phelps, partner at Duchossois Technology Partners. "We are particularly impressed by the NextHop management team. Their close strategic relationships with blue-chip customers and broadening technology portfolio provide a powerful combination."

"We feel very confident in our financial and market position as we move forward, broadening our markets domestically and internationally," said Ed Cluss, president and CEO of NextHop Technologies. "Bookings in 2004 show significant growth over 2003, and customer demand continues to grow. This financing, along with the acquisition of Legra Systems' wireless capabilities, are keys to helping us more proactively increase our market share over the next several quarters."

Over the last 17 years, more than 150 network equipment manufacturers including leading networking companies such as Avici, Check Point, Enterasys, Hitachi, HP, Huawei, Juniper, Lucent, Nortel and Riverstone, and Thomson have used GateD(R) routing software to provide IP (Internet protocol) routing and MPLS switching functionality in their products. They have chosen GateD because it is the most memory efficient, fastest, scalable, inter-operable, and reliable set of routing and MPLS software available on the market. For NextHop's customers, these features translate into shorter time-to-market, a lower total cost-of-development and increased revenue.

About NextHop Technologies

NextHop Technologies Inc. is the definitive source for network software solutions. NextHop's flagship product, GateD, the de facto standard, is the most widely used vendor-neutral routing software in the world. NextHop partners with its customers and the industry to empower innovation in networking with safe and reliable products that reduce time to market while minimizing development, testing and support costs. Founded in 2000 and funded by New Enterprise Associates, Labrador Ventures, Parker Price Venture Capital, and Duchossois Technology Partners, NextHop is based in Mountain View, Calif. Visit NextHop on the Web at www.nexthop.com.

NextHop Technologies and GateD are registered trademarks and NextHop is a trademark of NextHop Technologies Inc. All other trademarks and registered trademarks are the property of their respective owners.


Source: NextHop Technologies Inc.

CONTACT: Wanda Cavanaugh of Windward PR, +1-650-851-0880, Cell:
+1-650-533-1055, or wanda@windwardpr.com, for NextHop

Web site: http://www.nexthop.com/


-------
Profile: intent