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LeftHand's Latest Deal

Secures an extra $5.5 million for marketing new product

Storage appliance startup LeftHand Networks has secured an extra $5.5 million to support the launch of its product next month (see LeftHand Lands Lucre).

The extra funding comes from a third subscription to LeftHand's first funding round and brings its total raised to $19.4 million (see Lefthand Grabs Another Fistful ). The latest input comes from two new investors, William Blair New World Ventures and Wasatch Venture Fund, and it should last the company until early 2003, regardless of whether there's any revenue at that time, officials said.

However, LeftHand CEO Bill Chambers (no relation to the Cisco CEO) is projecting about $3 million in revenue next year. LeftHand's product is currently in beta testing at six customer sites and will ship commercially in December 2001, spokespeople say.

The Boulder, Colo., companys Network Unified Storage device, named the NSM 100, combines block and file storage over standard Ethernet or gigabit Ethernet networks. Its support of both types of input will enable its use in SAN and NAS applications.

The NSM 100 also enables companies to scale their storage via an Ethernet network using LeftHand’s unique (read: proprietary) Advanced Ethernet Block Storage (AEBS) protocol. The company plans to submit this as a potential standard to the Internet Engineering Task Force (IETF) and the Storage Networking Industry Association (SNIA).

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