Push Technology snags $5 mln Series A

Push Technology said Tuesday that it has secured more than $5 million in Series A funding. The investors included Leopard Rock Capital. Headquartered in San Jose, Calif., Push Technology is provider of data distribution solutions.

PRESS RELEASE

London, UK and San Jose, Calif. – August 12, 2014 – Push Technology, a leading provider of data distribution solutions enabling scalable and efficient Web and mobile applications, today announced that it has expanded its presence in the U.S. with a new West Coast office, backed by more than $5 million in Series A funding from Leopard Rock Capital and other existing and new shareholders.

Already, a third of Push Technology’s new business has come from its New York City office this year, so expanding to the West Coast was a natural next step in the company’s progression and continued growth. Its new U.S. headquarters in San Jose, California will be supported by new staff amid a 30 percent global workforce increase. Employees in the San Jose office will aim to grow Push Technology’s customer base in North America, promote product integrations with new, strategic U.S. partners and further existing partnerships, including with IBM.

“We are delighted at the opportunity to support Push Technology at this stage in its growth,” said Gavin Spencer of Leopard Rock Capital. “The company is helping businesses around the world ensure the performance of their apps at scale. Demand for solutions like Diffusion will only increase as data becomes more integral to consumers’ daily use of connected devices. We believe Push Technology has great potential to grow its presence, both in its industry and across global markets.”

This news comes shortly after Push Technology’s launch of Diffusion 5.0, which helps organizations achieve new levels of performance at scale for efficient application data delivery. With a new unified API, enhanced performance, high availability and easy integration with enterprise assets, the platform helps organizations get to market faster with high-performance, scalable, real-time apps and for these to be deployed across a range of mobile operating systems, networks and clients. This is especially important as consumers demand always-on connectivity for machine-to-machine (M2M) technology, over-the-top (OTT) services, Internet of Things apps and wearable devices.

“We’re already seeing growing interest in Diffusion from U.S. companies, so establishing an official presence State-side was key to capitalizing on that interest,” said Sean Bowen, CEO at Push Technology. “The Bay Area, in particular, is a hotbed of next-generation apps and new technologies, and represents a strategic opportunity for us to grow our presence in the U.S., especially as data-heavy trends like the Internet of Things, M2M and Mobility adoption continue to develop.”

About Push Technology
Push Technology solves the complexity around data distribution by optimizing application data to offer organizations intelligent delivery of real-time data to any device regardless of connectivity or location. The Company’s robust and innovative flagship communication platform, Diffusion™ helps to reduce infrastructure requirements while delivering high performance and scalable services to any Internet connected device.

Push Technology works with organizations in the e-gaming, financial services, telecommunications, healthcare, media and broadcast and transportation sectors to optimize data, mobile application performance, Web scale and data acceleration. Delivering data that’s live to the millisecond, Push Technology ensures that businesses can deliver engaging real time customer experiences to drive revenues, increase competitiveness, develop new business models to reduce network strain and recover costs and also elevate consumer engagement across multiple channels in real time.

Customers include Betfair, Betdaq, Cognia, Lloyds Bank, Oddschecker, Racing Post, Sportingbet, Tradition and William Hill. For more information, visit www.pushtechnology.com.

 

Leave a Reply

PEHUB Community

Join the 12505 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget