Streamcore Secures $7M

EMERYVILLE, Calif. -- Streamcore, a global provider of application performance and network optimization technologies, today announced it has received $7 million in Series B funding. Led by Auriga Partners and joined by Convergent Capital and OTC Asset Management, a subsidiary of Tocqueville Finance, Streamcore will use the Series B funding to increase the organizations global sales and marketing efforts.

In January 2007, Streamcore announced an agreement with International Wireless Ventures for the company to represent, promote and deploy the Streamcore product line to protect, accelerate and ensure the end user experience within their mobility service practice. In June 2006, Streamcore was selected to optimize the performance of Brinks France’s network and support the centralized management of key applications. In May 2005, Streamcore received $3 million in Series A funding from Convergent Capital and individual investors.

"Streamcore has the right management team, solutions and scale to lead the application and network optimization market," said Nicolas Tcherdakoff, Chairman of the Board. "As more organizations pursue network optimization, Streamcore’s technologically advanced applications are gaining wider deployments with customers and partners."Chief executive officer Eric Jeux and president Diaa Elyaacoubi lead Streamcore with the support of the board of directors, including: Nicolas Tcherdakoff, President and General Partner at Convergent Capital; Jacques Chatain, General Partner at Auriga Partners; and Xavier Faure, General Partner at OTC Asset Management.

“This financing provides Streamcore with the capital to further enhance marketing efforts, as well as execute an aggressive growth strategy involving accelerated delivery of new products in the US market,” said Eric Jeux, CEO of Streamcore. Diaa Elyaacoubi added, “Streamcore upcoming release of its fifth-generation product is a perfect fit for service providers seeking to help their enterprise customers deploy application and network optimization solutions that drive improved productivity and bottom line results.”

Streamcore System