Internet infrastructure provider Digital Envoy has secured $10.5 million in financing from a syndicate of investors including Frontier Capital, Cordova Ventures, CrossBow Ventures and other, undisclosed, strategic partners. The Atlanta-based company's first line of products is a Web-mapping technology called NetAcuity that can determine the geographic location and connection speed of any machine on the Internet.

NetAcuity correlates user location and Internet connection speed data with over 99 percent accuracy at the country level. Digital Envoy's next generation Emissary product will utilize the company's patent-pending RealPath technology, allowing enterprises to optimize network performance by routing users via a real-time, quickest-path analysis.

The company plans to use the new funding to target additional markets, such as the intelligent routing market.

According to Andrew Lindner, partner with Frontier Capital, which led the funding, "We invested in Digital Envoy primarily because the company is in a hyper-growth market, has a strong management team and a track record of performance as illustrated by its growing client base. Nearly all websites and many other applications can benefit from NetAcuity due to the technology's ability to pinpoint the location of an internet user and serve up localized advertising, content, store locations, language, currency as well as streaming audio and video. For example, what Global 2000 company wouldn't want to serve up the appropriate version of its website depending on the origin of the request?"

Digital Envoy's customers include Cable & Wireless, iBeam, AOL Time Warner, Network Associates, 24/7 Media and CinemaNow. In addition, the company has a global technology partnership with Siemens AG.

"Raising significant capital from leading venture and strategic investors, especially in this market, is a testament to the value Digital Envoy provides its customers," said Sanjay Parekh, chief strategy officer and co-founder of Digital Envoy.

"As broadband becomes the norm, the need for Digital Envoy's technology will continue to increase as a way to address bandwidth and digital rights management issues," said Tom Hawkins, principal of the Cordova Intellimedia Ventures Fund.

Frontier Capital is a $45 million venture capital fund based in Charlotte, N.C. The fund is focused on investments of $1-3 million in high growth companies located in the Southeast and Mid-Atlantic Regions. The founding partners of Frontier are Paul Stackhouse, Richard Maclean and Andrew Lindner.

LATEST NEWS

Blair Levin Calls for Citizen Participation
Bing Brings Twitter Into the Mix
CSC Teams With Microsoft on Cloud Services
FCC Gets to Work on Mapping Out Broadband Plan
Linux Vendors Head to the Cloud in Search of Cash

Cordova Ventures, founded in 1989, is an Atlanta-based venture capital firm representing approximately $270 million under management in seven funds. Cordova invests in seed, start-up and early-stage opportunities in areas such as information technology, industrial and manufacturing technologies, communications, financial services, life sciences and general healthcare.

CrossBow Ventures, located in West Palm Beach, Flor., manages $160 million through its two venture capital funds, and leads investments in the Southeastern United States, co-investing across North America with institutional partners in technology, telecommunications, life sciences and financial services/transaction processing companies.