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StorSimple Getting $10.5 Million Series C Round
This is a Press Release edited by StorageNewsletter.com on Mon, June 27th, 2011
Total at $31.5 million
The round was led by Ignition Partners and included participation by all of StorSimple's previous investors, including Index Ventures, Mayfield Fund and Redpoint Ventures.
This latest round brings the company's total funding to $31.5 million and will fund accelerating the growth of the company due to increased demand both in the U.S. and internationally.
"History has shown first movers with great breakthrough products capture disproportionate value for their customers and investors - we believe StorSimple to be just such a company," said Richard Fade, partner at Ignition. "StorSimple is a company we wanted to become a bigger a part of. It has an awesome team, a proven product, early market leadership and deep partner relationships with companies such as Microsoft, who recently selected StorSimple as a Partner of the Year."
"We appreciate this proactive support from our investors," said Ursheet Parikh, StorSimple co-founder and CEO. "We are now funded to hit escape velocity. This round reflects the fact that StorSimple has become the clear leader in this space and is the safe bet for any company looking for enterprise cloud storage where high-availability, security and performance are a given."
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