The company obtained a loan from venture lender Hercules Technology Growth Capital.
Sources inform ''Globes'' that Israeli start-up PeerApp Ltd. has obtained a venture loan from Hercules Technology Growth Capital Inc. (Nasdaq: HTGC) of the US.
PeerApp was founded in 2002, and develops solutions for easing network traffic loads. The company's products enable Internet service providers (ISPs) to cut costs by reducing traffic loads caused by applications that require extensive bandwidth, such as file sharing, content, and video files.
The company has raised $27 million to date, not including the new loan, from Israeli funds Evergreen Venture Partners and Cedar Fund and from Boston-based Pilot House Ventures Group.
Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2010
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