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Storwize Secures $19M

ORLANDO, Fla. -- Compression specialist Storwize has clinched $19 million in Series-C funding to boost its U.S. business and support the launch of a Fibre Channel SAN offering later this year.

The round, which included Bessemer Venture Partners, Lehman Brothers Venture Partners, and Sequoia Capital, brings the startup's total announced funding to $27 million.

"This money will help us bring the company to the second stage," said Gal Naor, Storwize's CEO and co-founder, describing his plan to expand the firm's 70-strong workforce with new hires in the U.S.

"Were going to have people in the U.S for sales, support, and systems engineering," he explained, adding that more than 20 new bodies will be added during the coming year.

Based in Israel and San Jose, Calif., Storwize is now looking to add more U.S. firms to its customer list, which already includes the Israel Defense Forces (IDF) and Israel's Bank Hapoalim. The CEO told Byte and Switch that Storwize has 25 to 30 customer accounts in the U.S., but only one of these, Halliburton, has been made public.

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