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Intransa Inhales $8M
Intransa Inc., one of the first companies to generate revenue from IP SAN systems, today secured $8 million in venture capital funding.
Previous investors Advanced Technology Ventures (ATV), Sofinnova Ventures Inc., Sofinnova Partners, U.S.Venture Partners, and a large pension plan participated in Intransas series C funding, bringing its total funding to $49 million.
Intransa CEO Avi Katz says he will use the funding to bolster sales and marketing, secure OEM partners, and develop new products by the end of this quarter. Intransa has sold primarily through resellers until now.
The move marks the start to what many say could be a defining year for iSCSI. But it doesn't look as if success for Intransa or any other player will come without struggle. The December Byte and Switch Insider, "IP Storage Networks," identifies Intransa as one of the most aggressive iSCSI storage array vendors, but the report forecasts that a wave of consolidation will thin out competition in 2004.
The three-year-old company based in San Jose, Calif., is battling both established storage vendors such as EMC Corp. (NYSE: EMC)
and Network Appliance Inc. (Nasdaq: NTAP),
plus rival startups LeftHand Networks
and EqualLogic Inc.
in the fledgling market.
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