Storage

10:30 PM
Connect Directly
RSS
E-Mail
50%
50%

3PARdata Snags $100M

Startup has EMC in its gunsights and cash in its coffers

3PARdata Inc. has scored a huge $100 million in third-round financing; the new injection of funds pushes its valuation up to $300 million, the company says (see 3PARdata Bags $100M).

The round was led by Amerindo Investment Advisors Inc. and 3PARdata's original investors, Mayfield Fund and WorldView Technology Partners.

Interestingly, a major pool of equity has been taken by strategic partners, including Sun Microsystems Inc. (Nasdaq: SUNW), Veritas Software Corp. (Nasdaq: VRTS), and Oracle Corp. (Nasdaq: ORCL).

These technology partners were critical in this round,” 3PARdata president and CEO, David Scott, told Byte and Switch. “In the block-based storage world customers are concerned with how well startup technology will integrate with their existing environments... Having companies [like Sun and Oracle involved] minimizes this perceived risk."

The funds will be used for product development, manufacturing, sales force expansion, and bringing 3PARdata's products to market, says Scott, who expects them to sustain the company through to profitability within the next two and a half years.

Previous
1 of 3
Next
Comment  | 
Print  | 
More Insights
Cartoon
Hot Topics
6
VMware Launches Hyper-Converged Infrastructure Appliance
Marcia Savage, Managing Editor, Network Computing,  8/25/2014
4
Cloud Storage Security: AWS Vs. Azure
Anna Andreeva, security quality assurance engineer, A1QA,  8/26/2014
4
The Rise Of White-Box Storage
Jim O'Reilly, Consultant,  8/27/2014
White Papers
Register for Network Computing Newsletters
Current Issue
Video
Slideshows
Twitter Feed