The company also announced that Erik Lassila, partner at Charter Ventures, joined the NetBoost board of directors.
This is the second round of funding for the firm, which received its initial financing in August 1997 from four of the same investors: Bay Partners, Crosspoint Venture Partners, Hambrecht & Quist, and Texas Instruments.
According to Len Rand, NetBoost president and co-founder, this round of financing will be used to further the company’s work in product development, for expansion of its partnership program, and to ramp up its sales and distribution organization.
“Charter Ventures has a strong record of growing successful technology companies and is a valued addition to our investor group,” Rand said. “We are pleased with the addition of Intel, with its knowledge of the semiconductor and networking space, to our investor group. We’re also pleased that our original investors elected to reinvest in NetBoost on the strength of our progress since their initial funding in 1997.”
NetBoost is a developer of high-performance network engines for deploying network policy-enforcement applications. It licenses its Software Developer’s Kit and software products to leading developers of network applications worldwide.