PANTHER EXPRESS CLOSES $15.75M SERIES B FUNDING LED BY INDEX VENTURES
New York, NY – (Feb 27, 2008) – Panther Express, a leading global provider of content delivery services, today announced the completion of a $15.75 million Series B round of venture financing led by Index Ventures. Gold Hill Capital and existing investor Greylock Partners also participated. Panther will use the funds for international expansion and further infrastructure investment to support its growing list of customers.
Founded in 2005 by Kevin P. Ryan and Dwight Merriman, former CEO and CTO of DoubleClick, Panther combines rapid, reliable and scalable performance with flexible and cost competitive terms resulting in the highest value CDN offering in the industry. In just over two years, Panther has established an international client base of over 250 customers across a broad range of markets including video and audio delivery, podcasting, ad serving, web hosting, gaming, traditional publishers and social networking companies.
“Panther Express is unique in the content delivery industry for combining very rapid growth with an excellent reputation for performance and customer service and a top-tier management team” said Ben Holmes of Index Ventures, who will join Panther’s board of directors. “We look forward to leveraging our online experience and European network to build upon Panther’s momentum.”
“Panther’s ability to provide rapid, reliable and scalable performance with the industry’s most attractive terms allowed us to quickly grow to over 50 customers in Europe and over 200 customers in the US,” added Kevin P. Ryan, Panther’s CEO, who is perhaps best known as the former CEO of DoubleClick. “With the support of Index Ventures, Greylock and Gold Hill, we will continue to increase our market share and improve our efficiency serving customers around the world.”
Panther’s unique network architecture provides the foundation for the industry’s leading high performance/high value network. Panther is able to diversify traffic across more than 15 leading ISPs to eliminate single-point-of-failure risk. Panther’s proprietary routing technology constantly monitors Internet conditions and all factors impacting delivery worldwide to determine the best data center from which to serve each request for content. Panther’s proprietary caching technology is highly tuned for optimal resource usage for all types of content whether large or small. With strategically placed large data centers in key locations around the world, Panther is able to achieve the best cache hit ratios resulting in the best real user performance and the lowest costs to its customers.
