Confluence appears to be building a product well ahead of anything the incumbent storage networking players, such as Brocade Communications Systems Inc. (Nasdaq: BRCD) and McData Corp. (Nasdaq: MCDT), have announced yet.
Storage Computer Corp. (AMEX: SOS) might give this company a run for its money. Its already shipping a NAS appliance that plugs directly into an optical network. And Nortel Networks Corp. (NYSE/Toronto: NT) and EMC Corp. (NYSE: EMC) have together announced a strategy to attack this market as well. (see Nortel, EMC Team on Storage)
Confluences Website also says it intends to dramatically simplify the management of storage area networks by creating a scalable, virtual storage pool. Here it joins the club of startups building virtualization capabilities into their systems. There are at least ten. Research Byte and Switch has carried out on the VC community reveals that this particular sector of the market has already received more than $250 million in funding. (see Startup Funding Nears $2 Billion)
Redpoint Ventures made an early investment in Confluence of $795,000, and New Enterprise Associates (NEA) came on board in an expansion round of $7 million in January, 2001. Sources close to Confluence tell us Benchmark Capital and Quantum Technology Ventures
have also joined the fray, pumping up its funding to date to $15 million.
The company currently has 54 employees. Much of Confluences credibility comes from its management team, made up of both business and technical mavens.