Israeli startup AppStream today announced the completion of a second financing round, raising $26 million. As far as can be ascertained, the round was conducted according to a $100 million company value, and as was published a week ago by TheMarker.com. Backers included American investment bank Goldman Sachs, the Japanese concern Mitsubishi and software house Computer Associates (NYSE:CA).
Others to take part in the capital raising are previous AppStream shareholders, including venture capital fund Evergreen Canada Israel Investments, American fund Draper Fisher Jurvetson and JK&B. following the current investment Mark Sokol, board member of JK&B, will join AppStream board of directors.
AppStream develops technology that allows software applications to be run online in streaming format. The technology makes considerable savings in time and network resources, and targets the application service provider market.
The company was founded late 1998 by Uri Raz, its CEO, and Ilan Zorman as COO/CFO. Its previous financing raising round was conducted early 1999, at a company valuation of $26 million.