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Funding Cheer for Two

MaXXan Systems Inc. and Archivas Inc. closed funding rounds today that should help them stake claims in fledgling markets next year (see MaXXan Scores $29M and Archivas Secures $10M ).

MaXXan pulled in $29 million in fourth-round funding, one of the market's biggest hauls this year, in anticipation of the intelligent switch market taking off. Archivas closed a $10 million second round to help bring its fixed content archiving product to market.

BA Venture Partners led MaXXans round, which brings its total financing to $113 million. U.S. Venture Partners, Venrock Associates, China Development Industrial Bank Inc., and Inventec Corp. also took part in the round.

MaXXan marketing VP Ravi Chalaka says the San Jose, Calif.-based startup will build up its professional services division and interoperability lab, adding about 15 people to the 90-person company. The funding should be MaXXan's last, as it plans profitability in 2006.

MaXXan is among the handful of vendors presently shipping intelligent switches. Execs claim 60 customers, but the market probably won’t heat up until EMC Corp. (NYSE: EMC) enters the space next year with its storage router (see EMC Takes Storage Router for a Spin).

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