Washington, D.C., September 16, 2013—IFC, a member of the World Bank Group, has invested $5 million in DiViNetworks, an Israeli company that provides network operators and internet service providers (ISPs) with cloud-based broadband solutions that significantly improve data delivery while saving costs.
The DiViCloud service uses DiViNetworks’ patented technology to increase Internet transmission capacities and free up congested internet connections. With deployment in 21 developing countries, the solutions lower costs and increase internet access for enterprises and consumers.
“We welcome the IFC as shareholders in DiViNetworks,” said DiViNetworks’ CEO Barak Avitbul. “The IFC’s investment and contribution will fuel our aggressive growth in emerging economies, enabling ISPs in those countries to economically and efficiently connect their users to the cloud.”
The majority of DiViNetworks’ clients are located in Sub-Saharan Africa, Latin America and South East Asia, with 80 percent based in the world’s least developed countries as classified by the World Bank’s International Development Agency.
Horacio Rivera-Piza,IFC Global Practice Leader for IT Services, said, “In today’s world, affordable and effective internet access is increasingly important for economic development. DiViNetworks’ technology is offered as a monthly service, playing an important role in expanding broadband access in a simple and cost efficient manner.”
“DiViNetworks equips ISPs with means to bring global data into their network in the most efficient, cost-effective and controllable way,” said Dr. Yair Shapira, DiViNetworks’ EVP Products. “By combining top-of-the-line technologies with global cloud-based infrastructure, every ISP, regardless of size or location, can benefit from our services.”
This is IFC’s first investment with an Israeli company in the technology sector.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.
DiViNetworks was founded in 2004 by Barak Avitbul, Dr. Hayim Shaul (CTO) and Pinchas Smotny. The company provides ISPs and Network Operators worldwide innovative solutions to deliver data efficiently into their network and within the network. DiViNetworks combines unique cloud-based infrastructures with the most advanced data delivery technologies – IP layer lossless compression, selective caching of delay-sensitive content, live video unicast to multicast for OTT traffic, packet-loss elimination over international links, virtual peering across 6 continents and traffic management in the cloud. Visit www.divinetworks.com.