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BlueArc Wallows in $47M Haul

NAS vendor BlueArc Corp. has tucked away a staggering $47 million round of new funding -- a truly lavish pile of loot that comes at a time when other storage startups are scrimping to get by (see BlueArc Inhales $47M in Funding).

The funding, which brings BlueArc to a total of $157 million raised since it was founded in 1998, came primarily from three new investors: Meritech Capital Partners, which led the round, Crosslink Capital, and RWI Group.

"These are real strong VCs," says Jeff Allen, BlueArc's senior VP of marketing. "We're not just going back to our existing investor base."

Previous investors include Apax Partners, Celtic House Venture Partners, Dell Computer Corp. (Nasdaq: DELL), myQube Venture Capital GmbH, and Weston Presidio Capital. BlueArc received its last major round of funding, $72 million, in May 2001 (see BlueArc Wins $72M Round).

BlueArc's latest funding is the biggest round of VC backing raised by a storage startup since now-defunct high-end NAS player Zambeel [ed. note: bad omen alert!] picked up $52.6 million in November 2001 (see Zambeel Lands $52.6M and Zambeel Znuffed Out). Stealth-mode NAS startup Pillar Data Systems supposedly has received around $100 million from Oracle Corp. (Nasdaq: ORCL) CEO Larry Ellison, but Pillar has never officially confirmed the amount (see Larry's Stealth Storage Startup).

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