Five-year-old Troika Networks took one step closer to getting its storage "super appliance" out the door, announcing that it has received $13 million in a fourth round of funding (see Troika Raises $13M).
A new investor, Anthem Venture Partners, led the round, which brings Troika's total funding to $67 million. Previous investors Draper Fisher Jurvetson, Dynafund Ventures, and Windward Ventures, as well as new investor Hamilton Apex Technology Ventures, also participated in the round.
"We think they have the best technology in their class," says Bill Woodward, the CEO of Anthem Venture, who adds that this is the VC's first investment in a storage array company. "It's got good people... and is in a really good place in the storage ecosystem."
Troika says it will use the latest cash injection, which was $1 million short of what it had been aiming for, to complete the development of its Network Storage Services platform [ed. note: ingeniously named!] and bring it to market later this year. The company was founded in 1998 (see Troika Strikes Back).
"We plan to make this our last round," says Troika CEO Bill Terrell. "The company is well funded to take itself to breakeven and beyond." He wouldn't say when the company might reach that elusive breakeven mark.