NextHop Technologies Adds $4M Funding

MOUNTAIN VIEW, Calif. - March 31, 2004 - NextHop Technologies® Inc., the definitive source for network software solutions, today announced that it has added $4 million in funding, bringing the total amount raised to date to $18 million. The financing included all of NextHop's current investment partners: New Enterprise Associates, Labrador Ventures, and Parker Price Venture Capital.

"We are bullish about our investment in NextHop Technologies. They continue to innovate and build on their market-leading position in network software solutions with an outstanding team and dedication to technology that meets customer’s needs," said Stewart Alsop, general partner, New Enterprise Associates. "Their close strategic relationships with blue-chip customers speaks volumes."

"We feel very confident in our financial position as we move forward, broadening our markets domestically and internationally," said Ed Cluss, president and CEO of NextHop Technologies. "We doubled bookings in 2003 over 2002, and Q1 2004 has continued that trend. Bookings are above plan and customer demand continues to grow. This financing will help us more proactively increase our market share over the next several quarters."

Over the last 17 years, more than 150 network equipment manufacturers including leading networking companies such as Avici Systems, Check Point Software Technologies, Enterasys Networks, Hitachi, Huawei Technologies, Juniper Networks, Nortel Networks, Riverstone Networks and Thomson have used GateD® routing software to provide IP Internet protocol) routing functionality in their products. They have chosen GateD because it is the most memory efficient, fastest, scalable, inter-operable, and reliable set of routing and multiple switch software available on the market. For NextHop’s customers, these features translate into shorter time-to-market, a lower total cost-of-development and increased revenue.

About NextHop Technologies
NextHop Technologies Inc. is the definitive source for network routing software solutions. NextHop's flagship product, GateD, the de facto standard, is the most widely used vendor-neutral routing software in the world. NextHop partners with its customers and the industry to empower innovation in networking with safe and reliable products that reduce time to market while minimizing development, testing and support costs. Founded in 2000 and funded by New Enterprise Associates, Labrador Ventures, and Parker Price Venture Capital, NextHop is based in Mountain View, Calif.

For more information visit:
www.nexthop.com



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