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Agami Sorts Cash Issues

CFO departs as NAS startup prepares for Series C funding in neighborhood of $13 million

Change is in the air at NAS startup Agami Systems, with CFO Dean Seniff leaving the company, and the vendor looking to clinch more than $13 million in Series C funding.

The finance chief left of his own accord last week "to pursue other opportunities", according to Alison Deane, Agami's senior director of product marketing. Despite Seniff's departure, the vendor is pressing on with its third funding round, which is expected to bring its total funding to more than $62 million.

Agami has already racked up $38 million in two funding rounds, along with an additional $11 million in debt financing last year to flesh out its product roadmap. (See Agami Gets $11M, Agami Plots Upgrade, and Agami Publishes Results.) The vendor, which is up against stiff competition in a NAS market dominated by EMC and NetApp, has undergone a series of metamorphoses in the past few years.

The startup's technology rose from the ashes of Zambeel, the clustered NAS startup that crashed in April of 2003. (See Zambeel Znuffed Out.) A startup called StorAD, heavily stocked with former Zambeel execs, bought Zambeel's IP out of bankruptcy, then changed its name to Agami Systems in 2004. (See From Zambeelians to Chameleons.)

Unlike other members of Agami's staff, Seniff is not a former Zambeelian. Prior to joining the startup, Seniff served as the CFO of software specialist NexPrise and helped manage the firm's acquisition by Ventro for $27 million. The exec also worked in finance and strategic planning at Schlumberger, Amerada Hess, and Pepsi Co.

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