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TMCNet: BRIEF: Faster Internet co Hola raises $10m

[October 25, 2012]

BRIEF: Faster Internet co Hola raises $10m

Oct 25, 2012 (Globes - McClatchy-Tribune Information Services via COMTEX) -- Hola, which is developing software to make the Internet up to ten times faster, has raised $10 million in a financing round led by Li Ka-shing's Horizon Ventures and with the participation of previous investors Magma Venture Partners, DFJ, DFJ Tamir-Fishman, and Trilogy VC. Hola has raised $18 million to date Based in Netanya, Hola is developing software as an overlay network that it hopes could make the Internet far faster than it is today. Hola claims that its systems will result in faster browsing, faster videos and clearer voice and video chat. The systems are applicable for PC, laptop and smartphone operating systems.

Hola was founded by CEO Ofer Vilenski and CTO Derry Shribman who previously founded Jungo in 2000. Jungo, which developed residential and business gateway software platforms and applications, and which was sold to NDS in 2006 for $107 million.

___ (c)2012 the Globes (Tel Aviv, Israel) Visit the Globes (Tel Aviv, Israel) at www.globes.co.il/serveen/globes/nodeview.asp fid=942 Distributed by MCT Information Services

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