Multapplied Networks Closes Third Round Investment
Software-based WAN solutions provider looks to open new markets and opportunities as part of its growth strategy.
January 12, 2015 – North Vancouver, BC: Multapplied Networks Inc. (“Multapplied”) today announced it has completed a round of investment with Madison Partners Corporation (“MPC”). This investment is the first stage of investment from MPC and brings the support of MPC to assist in the development of Multapplied’s business initiatives on a go forward basis.
John McKimm, President of MPC has joined the Board of Directors of Multapplied and is taking an active role in the go forward growth strategy of the business. Through other MPC-related companies in which Mr. McKimm has direct and indirect shareholdings, Multapplied will be initiating an enterprise sales strategy that complements its existing channel sales strategy. These MPC-related companies have existing significant global business activities and present an opportunity for Multapplied to increase its global expansion to include the United Arab Emirates, India, and China.
States Mel Steinke, Chairman of Multapplied, “Multapplied has developed a unique network software solution that combines bandwidth of multiple internet access connections to provide global customers with faster, more reliable, highly cost effective networks.”
“We are continually adding to our family of channel partners that conduct business with hundreds of thousands of corporate clients globally,” continues Mr. Steinke. “Bonded Internet™ has been in commercial production for over six years and now has thousands of connections fully operational around the world. The involvement of MPC as an investor combined with the experience of John McKimm in successfully launching and building entrepreneurial initiatives positions Multapplied well in expediting its growth strategy.”
States John McKimm, President of MPC, “Our due diligence has confirmed that Bonded Internet™ is unique in the marketplace and offers a superior cost-effective solution to what enterprises use currently for their Wide Area Networks. Currently, companies are using a combination of multiple hardware and software solutions that are typically expensive, difficult to manage, and lack the total functionality of the Multapplied solution. The Multapplied product plan is well structured and Multapplied has a proven implementation in the marketplace.
“The channel sales model is a low-cost, highly scalable approach to growth which is complemented by the enterprise sales model of MPC-related companies”, continues Mr. McKimm. “We see the Multapplied business opportunity as un-paralleled with the potential to quickly and cost effectively scale, leveraging the exceptional profit margins in the Multapplied investment model. We have not seen many opportunities that have the growth potential and profit margins of Multapplied and are looking forward to playing our part in building on their existing market success.”
Multapplied Networks is a network software developer with the vision of delivering cost-effective network products that multiply internet performance for corporate networks around the world. Our Bonded Internet™ software service combines the bandwidth of multiple Internet/access connections to provide customers with faster, more reliable networks. Features of Bonded Internet™ include:
- Bonding of multiple connections for the delivery of cost effective network bandwidth
- Combination of diverse mediums (DSL, Cable, T1, Wireless, etc.) and across carriers/providers (Bell, Rogers, AT&T, Verizon, Comcast, TELUS…)
- Data Compression for acceleration of throughput
- Bi-Directional Quality of Service for high quality voice and video communications
- Instantaneous failover to ensure full network reliability and availability
- IP Addresses do not change on fail-over, allowing for calls to survive network outages
- Encryption for secure communication between sites
- Customers benefit from MPLS-like private networks for Wide Area Networks
Bonded Internet™ is currently offered through distribution and implementation partners operating in Europe, Australia, and North America. The company began developing and deploying Bonded Internet™ in 2008. Since rebranding as Multapplied Networks in October of 2012, the company has become the leader in the category.
This news release is intended for information purposes only. Statements made in this news release may contain “forward looking” information about the company’s future business prospects. These statements while expressed in good faith and believed to have a reasonable basis are subject to risk and uncertainties that could cause actual results to differ materially from those set forth or implied by such forward looking statements. Investors should consult a professional advisor before making any investment decision.