CDNetworks, a South Korean content delivery network, has raised $96.5 million from Oak Investment Partners, Shinhan Private Equity and Goldman Sachs International. The publicly traded company, which claims to be the biggest CDN in Asia and third biggest in the world, says it will use the funding to fuel a rapid global expansion. The breakdown from Oak, Shinhan and Goldman is approximately $43 million, $32 million and $21 million respectively. The investment comes at a crossroads for the industry: while demand for CDN services has grown, particularly with the explosion of online video, there is persistent talk of a price war. With the funding, CDNetworks hopes to up its competitiveness with Akamai, (NSDQ: AKAM) Limelight (NSDQ: LLNW) and others. Oak Investment Partners was also a major Limelight backer. Release.

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