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Candera Cans SAN Hands: Page 2 of 2

He also expects to secure a third round of funding by the end of the year. To date, Candera has received $47.5 million in funding from investors that include AsiaTech Management LLC , Comcast Interactive (Nasdaq: CMCSA, CMCSK), Dali Hook Partners, Hotung Capital Management, New Enterprise Associates (NEA), Redpoint Ventures, Seagate Technology Inc. (NYSE: STX), and Venture Strategy Partners (see Can Candera Compete? and Confluence Scoops Up $28M).

"We're very much on track [for funding]," Sundaresh says. "We've received a good response from investors, and I still expect to close funding by the end of the quarter."

Candera makes the SCE 510 Cluster available in dual-node, high-availability pairs, with list pricing starting at $120,000. Unfortunately for the startup, it competes with storage virtualization products from huge hardware vendors, including Cisco Systems Inc. (Nasdaq: CSCO), Hewlett-Packard Co. (NYSE: HPQ), and IBM Corp. (NYSE: IBM) (see IBM Plays With Self (Virtually) and Veritas Finally Delivers on Cisco).

Dave Raffo, Senior Editor, Byte and Switch