PacketTrap Networks Secures $5M Series A Investment - August Capital Leads Investment in Network Management Solution Provider
San Francisco, CA (PRWEB) October 17, 2007 -- PacketTrap (www.PacketTrap.com), a provider of free network management tools, announced today that it has secured $5 million in Series A funding. August Capital led the financing with well known angel investors also participating.
PacketTrap will use the funding to develop unique solutions to serve the network management community. These solutions include a suite of network management tools that are integrated into PacketTrap's unique and proprietary centralized dashboard, PTiControl. PT iControl differentiates PacketTrap from other vendors by giving network administrators the ability integrate open source technologies and to perform network diagnosis, network mapping, comprehensive network reporting, network discovery, and other functions from a single screen. The Company's flagship toolsuite, the PT360, is currently in beta at over 25 enterprise organizations. The tool suite is expected to launch by the end of 2007.
"This funding allows us to develop technology that accurately, adequately and affordably monitors networks and all the components running on it, connected to it and tapping resources from it," said Steve Goodman, CEO of PacketTrap. "PacketTrap is also committed to the open source community and to the network engineers that support open source projects. Our approach is very unique and different from existing vendors and we're looking forward to building PacketTrap for the long-term."
"We believe PacketTrap will become an essential part of a network administrator's daily life," said Vivek Mehra, General Partner at August Capital. "We're excited about the value PacketTrap is creating for businesses and business processes."
About PacketTrap
PacketTrap Networks provides affordable enterprise-class network management solutions including, the PT360 Toolsuite. The company's network management tools encompass a vast array of network management, network monitoring, network analytics and network diagnostics capabilities. These tools, which were built by engineers for engineers, are integrated and managed within PTiControl, PacketTrap's centralized, personalized dashboard that provides a global view of the IT environment. More information can be found at www.PacketTrap.com.
About August Capital
Founded in 1995, August Capital is a leading venture capital firm that invests in innovative technology companies. With more than 100 years of combined venture, industry, and operational experience, August Capital focuses on helping outstanding entrepreneurs build large sustainable companies. August Capital has $1.3 billion under management, and has invested in more than 60 companies including Atheros, Cobalt Networks, Iridigm, Seagate, Shopping.com, Silicon Image, Postini, and Tickle. The firm's partners have previously invested in a number of groundbreaking technology companies, including Actel, Adaptec, Compaq, Grand Junction, Intuit, Linear Technology, Microsoft, MMC Networks, Sun Microsystems, Sybase, Symantec, and Visio. August Capital is located in Menlo Park, California.
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