Tacit Networks Inc., a company specializing in wide-area file services (WAFS) software, has scored $16.9 million in a second round of funding, bringing its total to $24.2 million (see Tacit Raises $16.9M).
Tacit's CEO Greg Grodhaus -- who's been with Tacit since founder Tim Williams stepped down from the CEO post last June (see Tacit Turns Up CEO) -- says the new input was "a greater than 60 percent up-round" and will be used to further develop the company's sales, marketing, and support.
He says the funding, which follows the company's first round of $7.3 million in December 2002, should bring the company to profitability by the end of 2005 (see Tacit Makes Funding Explicit). He thinks the WAFS market represents a $1.3 billion to $1.5 billion annual opportunity that's just starting to get tapped.
WAFS is specialized software that caches files and offers centralized, bidirectional access (read/write) to multiple remote sites. [Ed. note: It's also the Women's Auxiliary Ferrying Squadron.] The goal of WAFS is to overcome lags encountered when sending files to remote sites using traditional file protocols, such as NFS for Unix and CIFS for Windows.
Word of Tacit's funding was reported last month in Byte and Switch, and it's not the only encouraging activity in the segment (see Watch Out for WAFS). A small but growing cadre of competitors, including Actona Technologies Inc., DiskSites Inc., Riverbed Technology Inc., and Signiant Corp., also are getting new money and releasing new products.