29West Receives $2 Million Dollars in Investment and Howard Rossman to Join The Board of 29West
29West, Inc., the Chicago-based developer of high-performance messaging software solutions, announced today the closing of $2 million in financing from a group of private investors. 29West announced plans to use the investment to fund the creation of a sales and technical office in New York City in 2005 and in London in early 2006.
For immediate release:
Warrenville, IL, (PRWEB) September 3, 2005 –
29West, Inc., the Chicago-based developer of high-performance messaging software
solutions, announced today the closing of $2 million in financing from a group
of private investors.
29West announced plans to use the investment to
fund the creation of a sales and technical office in New York City in 2005 and
in London in early 2006.
“We have been quickly growing our customer base
as more and more prospects have had the opportunity to measure the performance
gains in both throughput and latency when comparing our Latency Busters™
Messaging software to the leading products in the market today,” said Mark
Mahowald, president at 29West. Mark added, “Seeing is believing. Some of our
customers and evaluation accounts have been able to measure improvements of 3 to
10 times the throughput and dramatically lower latency when simply replacing
their existing messaging system with LBM. With LBM providing a solid competitive
advantage, many of our customers in NY were interested in having a local sales
and support presence. Although we had been able to provide solid support from
our Chicago area headquarters, we wanted to take in additional capital to
provide the resources to open an office in NY this year and in London in early
2006.”
As a part of the investment, Howard Rossman, president of Mesirow
Advanced Strategies, Inc., with nearly $9 Billion under management, has agreed
to join the board of 29West. Howard joins Mark Mahowald, the founder and
president of 29West, and Ronald Lachman, a pioneer in network protocol
development and founder of Lachman Goldman ventures on the 29West
Board.
“When we took a look at the market success of 29West, and the
clear breakthrough the LBM design represents, it was obvious to us that the
company will have a major impact on the high speed messaging market, setting a
new standard for messaging performance. I look forward to serving on the board”
stated Howard Rossman.
About 29West
Founded in 2002 by a former
Talarian executive, 29West team members have been at the forefront of high
speed, real-time data distribution and networking since the mid-1980s. They
created the original architecture and led the implementation of the first
Rich/Reuters TRIARCH digital trading floors. They also crafted the TCP/IP stack
that was shipped with many major OEM UNIX implementations, including SVr4 from
AT&T USL. Additionally, 29West engineers were responsible for the first
commercial implementations of Cisco's PGM reliable multicast protocol, as well
as the commercialization and support of the Lucent-designed RMTP II reliable
multicasting protocol. For more information, visit http://www.29west.com.
Contact:
Mark
Mahowald
630-836-2990, ext.646
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Source : http://www.prweb.com/releases/2005/9/prweb279744.htm