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InMage Ingests $10M

Posted by Mary Jander on July 9, 2007

Tags: Backup & Recovery

Channel: Backup & Recovery

With help from an anonymous partner, InMage Systems has taken $10 million Series B funding. The round closed two weeks ago and was led by existing investors Hummer Winblad Venture Partners, an unnamed "strategic corporate partner," and Kumar Malavalli, the ex-CTO of Brocade who is InMage's chairman and chief strategy officer.

Mum's the word on who InMage's silent contributor may be. The company's list of strategic partners includes some intriguing possibilities: HP, IBM, Pillar Data, Quantum, RedHat, Sungard, Symantec, VMware, and Xiotech, as well as integrators iStreet Solutions and Solidcore. (See InMage Completes Testing.)

All investors except the mysterious new corporate entity had contributed to InMage's previous round. The startup's total funding is $17.3 million.

According to Malavalli, profitability is on the way and could be reached by early next year. And as to going public, he says, "That's an eventual, longer-term goal."

The new money will be used to increase sales and marketing and fund product engineering, execs say. There's a near-term product announcement coming, and roadmap items include an agentless version of the vendor's DR-Scout. Also planned are solutions aimed at specific vertical markets and better integration with virtualization -- building on the startup's recently announced integration with VMware, MS Exchange Server 2007, and 64-bit applications. (See CDP Gets Broad Makeover.)