agami Raises $45 Million

agámi Systems, Inc. announced that it
has currently closed $45 million in Series C financing and has an
option to extend the round. The funding, led by Advanced Equities, Inc.
with participation from current investors New Enterprise Associates
(NEA), Kleiner Perkins, APEX Venture Partners, Alta Partners, TIF
Ventures and Duff Ackerman Goodrich, and new investments from ITOCHU
Corporation and David Stiles (CEO), will be used to boost sales and
marketing activities in order to grow market share for the company’s
unified NAS/IP SAN agámi Information Server and future offerings.

“As one of the original investors in agámi Systems, we
believe that the company is well positioned to take advantage of a
unique market opportunity to deliver a new generation of
enterprise-class storage systems,” said Scott Sandell, General Partner,
NEA. “The company continues to be an attractive investment because of
the market’s demand for innovative storage solutions coupled with the
deep technology and business expertise of agámi Systems’ executive
team.”

“Advanced Equities’ participation in this financing round
along with the continued commitment from our existing and new investors
is strong validation of our business model and value proposition,” said
David Stiles, CEO, agámi Systems, Inc. “By utilizing this round of
funding to accelerate our sales and marketing initiatives, agámi looks
forward to growing our target markets with our differentiated and
innovative storage solutions while we prepare for upcoming expansion to
our product portfolio.”

agámi Systems, Inc.

Comments

$45 million, that's a lot! The biggest financial round for a storage start-up was $40 million in 2007, by Xiotech. The all-time record, not to be broken any soon, is still held by Cornice, a one-inch HDD manufacturer that got individuals rounds of $54 million in 2004 and an enormous $97 million in 2005, which did not prevent it from throwing in towel early last year.