E-mail start-up gains key backing

A group of investors that includes the chief executives of Hotmail and PayPal is backing a new Internet-messaging company that says it can speed up the transmission of messages.

IronPort Systems also on Tuesday announced its new AsyncOS operating System and strategic alliances with Dell Computer and IDEO.

The company has not released details about its products, except to say that it will launch an email gateway in the spring of 2002. But founder Scott Banister does claim in a release that AsyncOS "can process messages 1,000 percent more efficiently" than traditional systems.

IronPort has raised US$3.9m in financing, according to an announcement on Tuesday. Investors include Hotmail chief executive Sabeer Bhatia, Hotmail chief technology officer Jack Smith, PayPal chief executive Peter Thiel, and former Whistel Communications chief executive and Brocade director John Hamm.

Smith and Bhatia had already been part of an earlier funding round for the company, then known as Godspeed Networks.

Banister, who will be chief product officer of the new company, also founded ListBot, which is now owned by Microsoft. Former Microsoft and Hotmail executive Scott Weiss will be chief executive.

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