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Skyrider Raises $12 Million Series C Funding

Skyrider, developer of a new peer-to-peer (P2P) networking platform, has announced a Series C round of funding. Previous investors Sequoia Capital and Charles River Venture Partners also participated in the current round, bringing the total amount of funding raised to $20 million. The new funding will allow Skyrider to continue to deliver on its vision of helping businesses reach their customers in a highly effective way, and providing consumers with the ability to publish, find, and share information.

"The newest round of funding is further testament to Skyrider's value proposition: providing a sophisticated P2P infrastructure through which businesses and consumers can capitalize on the immense opportunity these networks offer. Our search marketing product is the first of many valuable services we plan to offer to help these communities," said Ed Kozel, CEO, Skyrider. "P2P networks encounter as many searches per day as Google or Yahoo; and there's a huge potential for advertisers to reach consumers on these networks. With our infrastructure and innovations like our search marketing product, we can help businesses connect with consumers by harnessing the power of online advertising and grow their businesses within a new untapped market," Ed said.

"Skyrider's unique approach to P2P networking, extensive expertise in building complex IT architectures, and ability to roll out innovative tools like the new search marketing product have us convinced that this company will be widely embraced both within the P2P community and by businesses seeking to reach that community", said David Britts, Partner, ComVentures. "Skyrider's vision and execution is much more scalable and cost-effective than the old client-server environments, and is ideally suited for supporting the sharing and distributing of vast numbers of large files such as commercial and user-generated audio and video content. This also makes it ideal to layer value-added products like search marketing to the networks. As such, Skyrider is providing an invaluable service to consumers and businesses leveraging P2P networks to connect with appropriate audiences and share relevant information," David said.

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