Coraid Raises $10M

CORAID Inc., a Redwood City, CA-based developer of computer data storage products, has closed a $10m Series A financing round with Allegis Capital and Azure Capital Partners.
The company will use the funds to accelerate the development and adoption of its EtherDrive storage platform, which provides its 1,100 customers, including large enterprise and government organizations, of all sizes, with a flexible tier of high performance, scale-out storage.
In conjuncton with the funding, the company has named Silicon Valley veterans to its executive team, including:
– Kevin Brown as CEO,
– Audrey MacLean as chairman of the board,
– Carl Wright as executive vice president of worldwide sales, and
– Josh Leslie as vice president of channels and business development.
In addition, Lara Druyan of Allegis Capital and Paul Weinstein of Azure Capital Partners have joined CORAID’s board of directors; Mark Leslie and Charles Giancarlo have joined the advisory board and invested in the company.

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