EdgeStone Capital Partners Makes $1.5M Investment in SlipStream
CONTENT ACCELERATION FOR DELIVERY OVER WIRELESS AND LANDLINE NETWORKS IS THE WAY OF THE FUTURETORONTO, ON., May 7th 2002 - EdgeStone Capital Partners today announced that they have invested $1.5 million in SlipStream Data Inc., a Waterloo-based technology company that has developed software which delivers significant speed improvements in Internet and network access.
SlipStream's patent-pending technology permits improved corporate productivity by increasing an organization's ability to cost-effectively serve the communication needs of both its internal and external customers. SlipStream Data utilizes lossless data compression and advanced network and content optimization technologies to create a solution for end-users, application developers and service providers. In addition, in a rapidly expanding market, SlipStream makes its lossless data compression technology available to corporations and individuals who are installing and adopting wireless and mobile networks - thus saving considerable time and money in the development of complex end-user applications.
"The SlipStream solution is the result of several years of research in data compression and network optimization. EdgeStone's investment will leverage our research and development successes and our management team into a commercial marketing success with measurable benefits to both corporations and end-users, "said Dr. En-hui Yang, a co-founder of SlipStream Data, and Professor and Canada Research Chair in Information Theory and Multimedia Compression at the University of Waterloo.
"SlipStream's technology plays an essential role in the continued expansion of the networked economy," said Ron Neumann, President of SlipStream Data. "With the proliferation of web-based, network hosted and wireless applications, accelerated access has become a key issue in corporate and employee performance. In fact, accelerated access and delivery is now emerging as one of the key challenges of the information revolution. SlipStream's solutions deliver tangible and measurable improvement in communication speeds".
Fast and efficient delivery of data content anywhere in the world - with high quality and at low cost - is the primary objective of SlipStream Data. "Data compression and network optimization technologies are destined to play a key role in maintaining control over the astronomical investment in infrastructure required for delivering data content over the Internet to every individual, household and business with an acceptable quality of service," said Dr. Ajit Singh, Executive Vice President and co-founder of SlipStream Data, an expert in the area of network-centric software as well as a Professor at the University of Waterloo.
EdgeStone Capital Partner's announcement today is part of their long-term plan to invest in high growth-potential technology companies. Formed in 1999, EdgeStone is one of the country's largest independent private capital managers. "Good companies with a strong business plan and proven products are always a good investment," said Bryan Kerdman, a partner at EdgeStone and manager of the firm's Venture Capital Fund. "We are convinced that SlipStream has great market potential and is well positioned for significant growth in the short term."
A version of SlipStream's technology is currently in test with Sentex Data Communications (a prominent Internet Service Provider), where it increases browsing speeds by a factor of up to 6 times for those on dial-up service. "We have found that the SlipStream solution compresses, optimizes and streamlines Web content after it leaves the server, and provides our clients with a truly dramatic improvement in Web browsing speed," said Keith Winter, President of Sentex.
About EdgeStone Capital Partners
EdgeStone Capital Partners manages over $1 billion of private capital on behalf of institutional and high net worth clients employing a family of funds approach. EdgeStone provides capital, strategic direction as well as business and financial advice to help promising early-stage and mid-market companies achieve their full potential. EdgeStone also leverages the resources of its broad business network and ensures an alignment of interests to achieve superior returns for all stakeholders.
The EdgeStone Capital Venture Fund provides capital to early-stage technology companies whose technology is substantially complete.
About SlipStream Data
SlipStream Data Inc. is a Waterloo, Ontario-based company which provides network optimization and lossless data compression technologies to end-users, application developers and service providers. Founded in 2000 the company utilized research work conducted at the University of Waterloo's Electrical & Computer Engineering and Computer Science departments. SlipStream's key value in the business world is its ability to increase corporate and employee productivity.
SlipStream Data Inc. is a subsidiary