PeerApp raises $3M for streamlined peer-to-peer sharing
PeerApp, a company based in Newton, Mass., claims that its infrastructure solutions for internet service providers can reduce the costs for ISPs when dealing with peer-to-peer traffic, a claim that, if true, should get it plenty of business.
Many ISPs grumble about the cost of dealing with P2P traffic, and a major company, Comcast, is currently the target of an FCC probe investigating its handling of P2P traffic.
A recent agreement with Pando Networks has given PeerApp some early business, although the company may face some challenges from open-source solutions over the long-term.
As we reported in October, an industry group called the P4P Working Group is attempting to set open-source standards for P2P sharing that would also reduce ISP costs. (The group also includes technical staff from Pando Networks.)
The $3 million funding was from Pilot House Ventures, Evergreen and Cedar Fund, according to peHUB. PeerApp previously took an undisclosed amount of funding from the same investors.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.