MaXXan Nets A Bundle
Page 1 of 1
MaXXan Systems, a pioneer in network-based intelligent storage solutions, has netted $29 million in venture funding, one of the biggest rounds of the year for a storage company.
The funding round, led by BA Venture Partners, brings MaXXan's total funding to a whopping $113 million since it incorporated in 2000. Other investors in the latest round include U.S. Venture Partners, Venrock Associates, China Development Industrial Bank and Inventec Corp.
The money will be used to ramp up sales, marketing and support, and to open an interoperability lab.
MaXXan boasts about 60 customers to date, with more expected by the end of the year, and claims a 12-to-18 month lead over the rest of the market. The company says its customers include "some of the largest and fastest-growing wireless providers in the world," including China Unicom.
"MaXXan is committed to remaining at the forefront of the intelligent SAN market by continuing to collaborate with partners and investors who share our vision of simplifying the deployment of SANs by centralizing the associated storage applications and reducing the total cost of ownership," said MaXXan CEO Vic Mahadevan. "We are proud of our product achievements, our partners and particularly the strength of the MaXXan team, which is verified by this recent funding and our growing sales revenue."
Also this week, Archivas, which launched in April, announced a $10 million funding round, bringing the company's total financing to $16 million to date.
The round includes previous investors North Bridge Venture Partners and Polaris Venture Partners, and new investor Solstice Capital.
Archivas' software lets customers store, protect and manage fixed-content data for less.
The start-up also announced that NASA's Goddard Space Flight Center has selected Archivas ArC technology for a 36-terabyte archive. NASA will use ArC to store scientific data from space that is continuously being downloaded from the agency's satellites.