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Trebia's $40M Secret: Page 3 of 3

CEO Conrad can't be led on any of this, except to say that Trebia's funding is a vote of confidence in a market segment that's going to be very hot indeed. "Just 25 percent of storage is networked today," he says. But he quotes figures from IDC that put total revenues from the sale of switches and routers for SANs at $8 billion in 2004. Trebia hopes to make its fortune selling chips to makers of those switches and routers.

This round of Trebia's funding was led by Atlas Venture. The round included input from Allianz, BancBoston Ventures, Deutsche Banc Alex Brown LLC, Raza Foundries, and VantagePoint Venture Partners, among others.

There was a conspicuous absence of strategic partner funding. Conrad says the startup didn't need the extra money badly enough to alienate any potential customers by taking funds from their competitors.

Besides Conrad, who hails from Analog Devices Inc. (NYSE: ADI) and Texas Instruments Inc. (NYSE: TXN), Trebia's management team includes founder and CTO Jon Sreekanth (ex-ACI, DEC, Bellabs, Nexion, and Telco Systems); founder and VP of business development Tom Riddle (ex-Silicon Value); VP of marketing Brendon Howe (ex-NaviPath, Indus River, 3Com, Proteon, Analog Devices); VP of engineering Wayne Koch (ex-IBM, Actel, Sky Computers, and Hewlett Packard); and VP of finance Martin Riegel (ex-Intel). Trebia has 50 employees.

- Mary Jander, Senior Editor, Light Reading