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Proxilliant Systems receives venture capital funding for global expansion


BALA CYNWYD, Pa., USA / STOCKHOLM, Sweden – May 25, 2005 – Proxilliant Systems Corp., formerly SpaceNet Communications AB, today announced the Series A investment of €2 million from leading Nordic venture capitals Creandum and Northzone Ventures.

Proxilliant gives cable operators a powerful Dynamic Ingress Blocking (DIB) tool to improve scalability, capacity, service quality and profitability of broadband networks. Proxilliant’s technology helps to accelerate the growth and success of new triple play services, including time sensitive IP applications such as VoIP (Voice over Internet Protocol) and real-time streaming TV.

“The funding and the valuable support of the venture capitals enable us to expand globally and fulfill strong customer demands for our products,” said Proxilliant Founder and CEO Arne Ljungdahl. “We are able to build on our successful worldwide deployments with operators in Canada, Sweden, Switzerland, Austria, England, Portugal, Japan and Korea, and to expand our current trials with leading U.S. operators and in the Asia Pacific market.”

“Broadband cable has been tremendously successful and with that growth comes the need to improve scalability, capacity and service quality, especially as voice and video services over IP are introduced. Proxilliant’s products enable these rollouts very cost effectively, and at the same time save on maintenance and operational costs,” said Gregers Kronborg, partner in Northzone Ventures. “We believe the encouraging results from current deployments will inspire widespread adoption of Proxilliant’s solutions.”

As ingress problems mount due to the increasing number of homes connecting to two-way services, demand is growing for solutions that allow more homes to be connected faster. Proxilliant’s patented technology pinpoints and reduces ingress significantly. This greatly improves capacity and service quality and saves resources from the cumbersome daily task of hunting and fighting ingress. Additional features allow unprecedented monitoring, control and management capabilities from a central network management system.

“Proxilliant is one of the most exciting expansion stage technology companies we have seen in Scandinavia in the last two years. Proxilliant’s technology has been verified by leading MSOs and cable companies worldwide,” said Martin Hauge, partner in Creandum. “With some of the largest cable operators in Europe and North America having started installation projects, Proxilliant is well positioned for continued rapid growth.”


About Proxilliant
Proxilliant is a leading cable networks technology company based in Stockholm, Sweden and Bala Cynwyd, Pennsylvania. The company provides networking solutions essential to triple play service expansion and profitability of broadband cable. Proxilliant‚s key technology reduces noise and ingress in cable networks, improving capacity, reliability, service quality and profitability for broadband cable and VoIP operators. Cable operators now have the opportunity to implement triple service offerings and bring new revenue streams online faster and more economically than conventional system upgrades.

Proxilliant is represented in Asia by agents and OEM business partners. The company’s global customer base includes UPC Sweden, TVCabo in Portugal, Cablecom in Switzerland and trials with major U.S. cable operators. Proxilliant has acquired funding from leading venture capital companies Northzone Ventures and Creandum to expand globally. For more information, please visit www.Proxilliant.com.


About Northzone
Northzone Ventures, the management company, was established in 1996. Northzone Ventures has a team of 10 people and offices in Oslo, Stockholm and Copenhagen. Northzone is actively engaged in about 20 Scandinavian technology companies. Current and past portfolio companies include Norstel, Stepstone, Pricerunner, Jasper Design Automation, Enigma Semiconductor, Envox, Lastminute.com, Mamut, Nextgentel and T


Publisher Contact Information:

Proxilliant Systems
+1 610 660 7737
gerhard.gilke@proxilliant.com

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