Lombard, IL (PRWEB) September 2, 2005
Warrenville, IL, Septemeber 2, 2005 Â 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.
ÂWe 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 Â Messaging software to the leading products in the market today,Â said Mark Mahowald, president at 29West. Mark added, ÂSeeing 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.Â
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.
ÂWhen 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 boardÂ stated Howard Rossman.
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.