Panther Express Closes US$15.75M Series B Funding Led by Index Ventures

NEW YORK and LONDON, February 27 /PRNewswire/ --

Panther Express, a leading global provider of content delivery services,
today announced the completion of a US$15.75 million Series B round of
venture financing led by Index Ventures. Gold Hill Capital and existing
investor Greylock Partners also participated. Panther will use the funds for
international expansion and further infrastructure investment to support its
growing list of customers.

Founded in 2005 by Kevin P. Ryan and Dwight Merriman, former CEO and CTO
of DoubleClick, Panther combines rapid, reliable and scalable performance
with flexible and cost competitive terms resulting in the highest value CDN
offering in the industry. In just over two years, Panther has established an
international client base of over 250 customers across a broad range of
markets including video and audio delivery, podcasting, ad serving, web
hosting, gaming, traditional publishers and social networking companies.

"Panther Express is unique in the content delivery industry for combining
very rapid growth with an excellent reputation for performance and customer
service and a top-tier management team," said Ben Holmes of Index Ventures,
who will join Panther's board of directors. "We look forward to leveraging
our online experience and European network to build upon Panther's momentum."

"Panther's ability to provide rapid, reliable and scalable performance
with the industry's most attractive terms allowed us to quickly grow to over
50 customers in Europe and over 200 customers in the US," added Kevin P.
Ryan, Panther's CEO, who is perhaps best known as the former CEO of
DoubleClick. "With the support of Index Ventures, Greylock and Gold Hill, we
will continue to increase our market share and improve our efficiency serving
customers around the world."

Panther's unique network architecture provides the foundation for the
industry's leading high performance/high value network. Panther is able to
diversify traffic across more than 15 leading ISPs to eliminate
single-point-of-failure risk. Panther's proprietary routing technology
constantly monitors Internet conditions and all factors impacting delivery
worldwide to determine the best data center from which to serve each request
for content. Panther's proprietary caching technology is highly tuned for
optimal resource usage for all types of content whether large or small. With
strategically placed large data centers in key locations around the world,
Panther is able to achieve the best cache hit ratios resulting in the best
real user performance and the lowest costs to its customers.

About Panther Express

Panther Express Corp. is the industry's best value CDN solution -- a
high-performance content delivery network (CDN) with an innovative low-cost
infrastructure. Founded in 2005 by former DoubleClick CEO Kevin Ryan and
DoubleClick Co-founder and former CTO Dwight Merriman, Panther Express
ensures rapid, reliable and scalable performance with the best prices and
terms. Panther Express is privately held and based in New York.

For more information contact Panther Express at 40 West 20th Street, New
York, New York 10011.

About Index Ventures

Index Ventures is a leading European venture capital firm active in
technology venture investing since 1996. The firm is dedicated to helping top
entrepreneurial teams in the Information Technology and Life Science sectors
build their companies into market defining global leaders. The firm has
offices in Geneva, London and Jersey and focuses on investments from seed
through growth stage companies. Recent exits include Skype (the pioneering
communications company acquired by eBay); MySQL (the world's most popular
open source database recently acquired by Sun), Last.fm (the world's largest
social music platform, recently acquired by CBS) and BioXell (BIOX, floated
on the SWX in 2007). For more information, please visit
http://www.indexventures.com.

About Greylock Partners

Founded in 1965, Greylock Partners is one of the world's leading venture
capital firms. Over the past 40 years, Greylock has funded and helped build
several hundred successful companies. The Greylock approach uniquely puts the
entrepreneur first, with Greylock working as an "invited guest" in a highly
supportive yet consultative way to help entrepreneurs build market-leading
companies. Companies Greylock has funded include Ascend Communications,
Continental Cable, DoubleClick, Internet Security Systems, Legato, Millennium
Pharmaceuticals, Openwave, Red Hat, Tellabs and Trilogy. Greylock's offices
are located in the Boston area and in Silicon Valley. For additional
information, kindly visit http://www.greylock.com/.

About Gold Hill Capital

Gold Hill Capital is a leading provider of growth capital financing for
venture-backed technology and life science companies. Their debt solutions
aid in growing companies while providing maximum operational flexibility.
Gold Hill's vast and varied experience allows their firm to bring a highly
intelligent and customized approach to corporate financing. With extensive
backgrounds in commercial banking, investment banking, venture capital, and
operations, the partners at Gold Hill provide the management teams of their
portfolio companies a unique perspective and enable them to make the smartest
decisions for financing their companies, every step of the way. For more
information, please visit http://www.goldhillcapital.com/index.html.

Web site: http://www.indexventures.com
              http://www.greylock.com
              http://www.goldhillcapital.com/index.html