NetScaler raises $20 mn for expansion

<div class="section1"><div class="Normal">BANGALORE: B V Jagadeesh-promoted NetScaler, an application delivery systems provider with a R&D centre in Bangalore, has announced that it has raised $20 million in an expansion round of funding. <br /><br />Led by Focus Ventures, this oversubscribed round also included Granite Global Ventures as well as existing investors Sequoia Capital, Goldman Sachs & Co, Gabriel Venture Partners and Bay Partners.<br /><br />The company is addressing and defining the market for application delivery, a rapidly emerging new category that represents the next generation of secure traffic management devices with a market opportunity of $2.2 billion by 2005.<br /><br />"We continue to see very strong demand both domestically and internationally for application delivery products," says B.V.Jagadeesh, president and CEO, NetScaler. <br /><br />"This late stage funding will primarily serve to support our continued success in penetrating Global 2000 enterprise accounts by further solidifying our already strong financial position and accelerating our plans to expand globally."<br /><br /><formid=367815></formid=367815></div> </div>