A major restructuring failed to save SATA appliance maker Candera Inc., which has officially closed its doors.
Sources differ on when the company actually closed; One analyst, who asked not to be named, says it closed late in November; the company's PR agency was only told it closed this week.
"I'm not making any comment at this time," says CEO S. "Sundi" Sundaresh. But he acknowledges the company's shut down and that the assets of the Milpitas, Calif.-based firm will be sold. To whom, and for how much, remains to be seen.
The news is no surprise. Despite scoring $59 million in funding, Candera couldn't seem to get any sizeable sales of its intelligent tiered-storage SATA appliance underway. Layoffs a year ago, followed by new product, more channels, and more layoffs failed to do the trick (see Candera Cuts Again, Candera Cans SAN Hands, Candera Back for Seconds, and Candera Closes $12M Round).
There were signs of stress in the ranks. Nilesh Shah, who founded Candera as Confluence Networks in 2000, left the company in September. The VP of sales, Duke Lambert, jumped ship for startup NeoPath Networks in November, after joining Candera in August 2003.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
