In WAN Acceleration, Silver Peak Got $21 Million
Total investment being now $61 million for the start-up
This is a Press Release edited by StorageNewsletter.com on January 16, 2008 at 4:14 pmSilver Peak Systems Inc. has
secured $21 million in series D funding, bringing the total investment
in the company to $63 million. The latest round of funding includes
investments from Artis Capital Management, Benchmark Capital, Duff
Ackerman and Goodrich LLC, Greylock Partners, J. & W. Seligman
& Co, and Pinnacle Ventures.
The
new funding will provide working capital to expand all areas of the
company’s global business, including engineering, sales, marketing and
support. “WAN acceleration is essential to the success of a variety of
key IT initiatives, from server centralization and virtualization to
data backup and recovery,” said Rick Tinsley, president and chief
executive officer of Silver Peak. “As data volumes increase, so to does
the demand for a scalable WAN acceleration solution. The latest
financial investment, coupled with the company’s unique technology,
puts Silver Peak in an ideal position to capitalize on this burgeoning
market.”
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