CacheLogic continues its industry progress. CacheLogic has a new CEO, Pat Chapman-Pincher. Chapman-Pincher was previously President of ISP backbone provider UUNET International.

CacheLogic also raised $20M in Series C Funding. Funding came from 3i along with syndicate members Pentech Ventures and The Cambridge Gateway Fund. The money will go to expanding sales and product efforts.

CacheLogic develops products and services for ISPs to Save Money and manage P2P traffic. The company is also working with content providers to provide distribution through ISPs.