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NeoPath Nabs $12M

NeoPath Networks
is jumping into the emerging -- and increasingly crowded -- NAS consolidation space with a $12 million Series B funding round. Its product is expected by the end of the year.

Gabriel Venture Partners led the Santa Clara, Calif.-based NeoPaths funding round, with previous investors August Capital, Doll Capital Management (DCM), and Dot Edu Ventures participating in the round. Gabriel Ventures general partner Navin Chaddha joins NeoPath’s board.

NeoPath’s founder and CEO Rajeev Chawla says the funding will be used to build sales, marketing, and product development for the 30-person startup.

NeoPath’s software runs on hardware appliances to provide global namespace for files. That allows NAS file servers to access files regardless of where they reside. Chawla claims its appliances are running in beta sites now, and he expects revenue later this year.

NeoPath’s first funding of $6 million came in the spring of 2003 when the company was called Meta Data Systems. But the startup didn't announce the funding until last March. That’s also when it changed its name to NeoPath.

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