COPAN Systems Announces $25 Million Series B Funding Led by Pequot Ventures.LONGMONT, Colo. -- New Investment to Scale World-Class Infrastructure, New Product Development, Sales and Marketing COPAN Co·pán A ruined Mayan city of western Honduras that flourished from c. 300 b.c. to a.d. 900. The ruins include the Hieroglyphic Stairway with nearly 2,000 glyphs. Systems, provider of the leading disk-based alternative to tape for long term data storage, today announced $25 million in Series B venture funding led by Pequot Ventures. Additional new investor, Pinnacle pinnacle (pĭn`ĭkəl), minor architectural motif of vertical tapering shape, usually crowning a pier, buttress, or gable. Although sometimes it appears in Renaissance design, as in the Certosa di Pavia, it is almost exclusively a medieval Ventures and existing investors Austin Ventures and Globespan Capital, also participated. The general availability announcement of the Revolution 200T and significant customer demand warranted the additional investment. Funds will be used to scale the company, drive new product innovation and to further expand the company's sales and marketing organization. COPAN Systems has raised $39 million to date. "COPAN Systems has developed a powerful new disk-based storage system that meets significant pent up demand for highly reliable, ultra dense disk at a substantially lower cost," said new Board member, Greg Rossmann, General Partner of funds managed by Pequot Ventures. "Our in depth research concluded that their advanced MAID architecture meets a fundamental need in industries such as financial, manufacturing, aerospace, media and government. Their experienced leadership, market position and technical superiority, will allow COPAN to become a leader in the growing market for long term disk-based storage." As enterprises are required to keep more data online, and the amount of protected data continues to grow, the need for a new solution is apparent. Tape's access times, expensive management, and increased data migration requirements make it inappropriate for a growing portion of enterprise data customers. Typical disk arrays are too expensive and do not possess the scale and unique management software needed for long term data archives. COPAN Systems targets a $5 billion market that has been previously addressed by tape and optical subsystems. "To add Pequot Ventures to an outstanding group of venture partners is an exciting validation of our vision in addressing the need to change how companies manage long term data," said Dave Davenport Dave Davenport (born February 20, 1890 in Alexandria, Louisiana - October 16, 1954), is a former professional baseball player who played pitcher in the Major Leagues from 1914-1919. Davenport would play for the Cincinnati Reds, St. Louis Terriers, and the St. Louis Browns. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of COPAN Systems. "With the support of our investors and partners, COPAN Systems will continue to provide a growing list of Fortune 500 customers with the most scalable, reliable and affordable disk-based foundation for long term data storage." COPAN Systems' flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the Revolution 200T, utilizes a patent-pending MAID-based architecture, and innovations such as Power-Managed RAID(TM) and Disk Aerobics aerobics (ârō`biks), [Gr.,=with oxygen], system of endurance exercises that promote cardiovascular fitness by producing and sustaining an elevated heart rate for a prolonged period of time, thereby pumping an increased amount of oxygen-rich (TM), to deliver massively scalable and reliable disk-based storage at dramatically lower cost points. Companies in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , government, media and service provider industries are choosing the Revolution 200T to take the place of to be substituted for. - Berkeley. See also: Place tape in archive, backup/recovery and scientific research applications. About COPAN Systems COPAN Systems was founded in 2002 to address the growing pain associated with the storage and management of long term data. Located in Longmont, Colorado The City of Longmont is a home rule municipality located in Boulder County and Weld County, Colorado, United States. Longmont is the 13th most populous city in the State of Colorado. The word "Longmont" comes from Longs Peak, a prominent mountain named for explorer Stephen H. , the company is led by storage industry veterans from Hitachi Data Systems See HDS. , StorageTek, VERITAS, Dell and Compaq. COPAN Systems is privately-held, with investment by Austin Ventures, Globespan Capital, Pequot Ventures and Pinnacle Ventures. For more information, visit www.copansys.com. About Pequot Ventures Pequot Ventures is the direct venture investment arm of Pequot Capital Management, Inc., and focuses on today's most dynamic startup and growth stage companies in the infrastructure, software and services and healthcare sectors. Pequot Ventures creates value in bringing energy and substantial sector expertise to its portfolio companies through the collective intellectual capital, deep operating experience and extensive network of its investment team. The firm leverages its unique multi-billion dollar presence across both public and private equity markets to help build competitive, sustainable businesses A business is sustainable if it has adapted its practices for the use of renewable resources and holds itself accountable for the environmental and human rights impacts of its activities. in fast changing environments throughout their lifecycle. For more information, visit www.pequotventures.com. |
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