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Panther Express Closes $15.75M Series B Funding Led by Index Ventures

NEW YORK and LONDON, Feb. 27 /PRNewswire/ -- 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.

NEW YORK and LONDON, Feb. 27 /PRNewswire/ — 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.

About Panther Express

Panther Express Corp. is the industry's best value CDN solution — a high-performance content delivery network (CDN) with an innovative low-cost infrastructure. Founded in 2005 by former DoubleClick CEO Kevin Ryan and DoubleClick Co-founder and former CTO Dwight Merriman, Panther Express ensures rapid, reliable and scalable performance with the best prices and terms. Panther Express is privately held and based in New York.

For more information contact Panther Express at 40 West 20th Street, New York, New York 10011.

About Index Ventures

Index Ventures is a leading European venture capital firm active in technology venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. The firm has offices in Geneva, London and Jersey and focuses on investments from seed through growth stage companies. Recent exits include Skype (the pioneering communications company acquired by eBay); MySQL (the world's most popular open source database recently acquired by Sun), Last.fm (the world's largest social music platform, recently acquired by CBS) and BioXell (BIOX, floated on the SWX in 2007). For more information, please visit http://www.indexventures.com.

About Greylock Partners

Founded in 1965, Greylock Partners is one of the world's leading venture capital firms. Over the past 40 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an "invited guest" in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, Continental Cable, DoubleClick, Internet Security Systems, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, Tellabs and Trilogy. Greylock's offices are located in the Boston area and in Silicon Valley. For additional information, kindly visit http://www.greylock.com/.

About Gold Hill Capital

Gold Hill Capital is a leading provider of growth capital financing for venture-backed technology and life science companies. Their debt solutions aid in growing companies while providing maximum operational flexibility. Gold Hill's vast and varied experience allows their firm to bring a highly intelligent and customized approach to corporate financing. With extensive backgrounds in commercial banking, investment banking, venture capital, and operations, the partners at Gold Hill provide the management teams of their portfolio companies a unique perspective and enable them to make the smartest decisions for financing their companies, every step of the way. For more information, please visit http://www.goldhillcapital.com/index.html.

SOURCE Panther Express

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