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It's Raining VC Money

What a difference a year makes. The $12 million in funding Candera Inc.
pulled down this week (see Candera Closes $12M Round) is a nice chunk of change -- for 2003. As far as 2004 funding goes, it's starting to look like a pauper's sum.

Candera is the seventh storage company to announce funding since the start of the year. The seven have averaged $19.3 million, a substantial increase over the average funding round in the first two months of 2003 when 13 companies received $154.7 million -- or $11.9 million apiece.

Back in 2003, the biggest funding in the January/February timeframe was $26 million for 3ware Inc. (see 3ware Hits Reset Button). That would be tied for third on this years list with Maranti Networks, behind 3PAR Inc. ($32 million) and Egenera Inc. ($30 million).

Other companies funded this year include Zantaz Inc. ($20 million), Intransa Inc. ($8 million), and DataCore Software Corp. ($7 million).

Table 1: Storage Networking Startups 2004

Company Latest Funding Round Total Raised Product
Candera $12M 3rd $59M Disk-based storage
3Par $32M 4th $153M SAN
Maranti Networks $26M 3rd $57M Intelligent switches
DataCore $7M 4th $82M SAN management software
Egenera $30M 4th $124M Blade server virtualization
Zantaz $20M 6th $90M Storage management services
Intransa $8M 3rd $49M IP SANs
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