Coraid Closes $50M Funding

Coraid, Inc., a Redwood City, CA-based developer of Ethernet SAN solutions, has closed a $50m funding.

The round was led by Crosslink Capital, with participation from existing investors Menlo Ventures, Allegis Capital, Azure Capital Partners and affiliates of Silver Lake, as well as new investors including Seagate Technology and Kinetic Ventures.

The company intends to use the funding to expand global operations and accelerate innovation in storage and cloud orchestration.

Led by CEO Kevin Brown, Coraid provides its EtherDrive storage solutions designed for virtualization and cloud architectures to deliver deliver faster performance than Fibre Channel. According to the company, EtherDrive arrays can be deployed in less than 60 seconds and present themselves to servers as direct-attached storage.
Coraid recently acquired cloud orchestration software vendor Yunteqâ„¢ to enable policy-based automation of storage, networks, and security for public and private clouds.

The company said it surpassed 1,500 customers in 45 countries.

FinSMEs

03/11/2011

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