PeerApp, a Newton, Massachusetts-based provider of transparent Internet caching and content delivery platforms, has closed a growth equity investment of undisclosed amount.
The round was led by Summit Partners, with participation from Cedar Fund, Evergreen Partners, Pilot House Ventures Group and existing investors.
The company intends to use the funds to accelerate its commercial efforts and expand globally.
Founded in 2004 and led by CEO Robert Mayer and CFO Joseph Hazan, PeerApp provides UltraBand transparent Internet caching platform designed to enable network operators to deliver and accelerate Internet video and other forms of multimedia content.
Since inception, PeerApp has installed its UltraBand system at more than 175 telecommunication service providers, multi-system cable operators (MSOs) and mobile operators in over 60 countries throughout North and South America, Europe, Africa, and Asia.
In conjunction with the investment, Tom Jennings, a Managing Director at Summit Partners, has joined the company’s Board of Directors.