FastSoft Receives $4 Million Series A Funding Led by Miramar
Southern California Company Accelerates Internet Connections with Single-Box Solution
MONROVIA, CA – June 11, 2007—FastSoft Inc. (fastsoft.com), an early-stage, Southern California-based company developing products that accelerate the transfer of data over the Internet, today announced that it has completed a $4 million round of private equity funding led by Miramar Venture Partners (www.miramarvp.com). Funding will be used to accelerate sales and marketing efforts and further product development.
FastSoft uses award-winning, patent-pending Internet acceleration technology to help companies in manufacturing, telecommunications, and media/entertainment increase revenues and productivity and decrease costs. In today’s broadband-powered world, the transfer of large files is seriously hindered by TCP, the protocol that governs more than 90% of Internet traffic. Companies that depend on the transfer of large files, including video, design, and backup, lose valuable time and productivity waiting for data to download. FastSoft’s flagship Aria product line is empowering organizations to realize the full capacity of their Internet connections with a “single-box” tool that provides native TCP enhancement and does not require any hardware or software on the receiving end.
FastSoft’s patent-pending FastTCP™ technology, which was developed using research undertaken by company CEO Steven Low at the California Institute of Technology’s Networking Laboratory (Netlab), was a key component of the winning entries at the SuperComputing Bandwidth Challenge for the last four years. According to Dr. Low, “From day one our focus has been to help companies that depend on the transfer of large files increase their productivity and their profitability. This funding is a validation of the work we have been doing for the last five years.”
“Fastsoft has developed remarkable technology that sets it apart from current TCP acceleration products. We at Miramar are excited to work with a Dr. Steven Low and his world-class technical team to bring this new product to the market,” according to Heiner Sussner of Miramar Venture Partners.
About Miramar Venture Partners
Miramar Venture Partners invests in early-stage information technology companies, primarily in Southern California. Miramar’s team is highly experienced at working with emerging companies and it applies that experience as well financial resources to support entrepreneurs and their teams in building and growing their companies. More information about Miramar can be found at www.miramarvp.com.
About FastSoft
FastSoft, Inc. (www.fastsoft.com) is a privately funded company based in the Los Angeles area. Its patent-pending FastTCP technology was developed at The California Institute of Technology’s networking laboratory (Netlab). The company’s mission is to generate significant business benefit for companies that depend on the transfer of large files by radically improving the speed of data transfer over the Web.