3PARdata Inc. has scored a huge $100 million in third-round financing; the new injection of funds pushes its valuation up to $300 million, the company says (see 3PARdata Bags $100M).
The round was led by Amerindo Investment Advisors Inc. and 3PARdata's original investors, Mayfield Fund and WorldView Technology Partners.
Interestingly, a major pool of equity has been taken by strategic partners, including Sun Microsystems Inc. (Nasdaq: SUNW), Veritas Software Corp. (Nasdaq: VRTS), and Oracle Corp. (Nasdaq: ORCL).
These technology partners were critical in this round, 3PARdata president and CEO, David Scott, told Byte and Switch. In the block-based storage world customers are concerned with how well startup technology will integrate with their existing environments... Having companies [like Sun and Oracle involved] minimizes this perceived risk."
The funds will be used for product development, manufacturing, sales force expansion, and bringing 3PARdata's products to market, says Scott, who expects them to sustain the company through to profitability within the next two and a half years.