Corvil Secures $12 Million for Network Latency Mgt for Financials

Corvil, a start-up based in Dublin, Ireland, secured $12 million in a new round of funding for its work in latency management systems aimed at the financial community. Corvil will use the new financing to expand its capabilities to meet the demands of global investment banks, hedge funds, ECNs, exchanges, and network service providers seeking the lowest possible latency for high performance trading.

Corvil was founded in 2000 to address difficult challenges in network performance and optimization brought about by increasing sensitivity of modern networked applications to latency. These challenges included microburst detection and real-time determination of the bandwidth required to meet pre-specified service quality levels for networked applications.

In the new funding round, Vesbridge Partners joined existing investors ACT Ventures and APAX Partners.http://www.corvil.com

• In October 2007 Corvil announced that the London Stock Exchange had deployed the CorvilNet solution to help achieve low-latency in LSE’s access network and record performance levels for its new trading system, called TradElect. In November, 2007 Corvil announced that Deutsche Borse Systems deployed CorvilNet to ensure the success of Deutsche Borse Group’s Eurex market data service to significantly enhance support of algorithmic trading. In June, 2008 Corvil announced that Credit Suisse has selected CorvilNet(TM) for a global network deployment. Corvil teamed with BT to deliver a best-in-class solution for latency management and optimization of the Credit Suisse network.