MaXXan Systems, Inc. Secures $26 Million In First Round Venture Funding.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--May 8, 2001 MaXXan Systems, Inc. (www.maxxan.com), a new company developing next-generation networking infrastructure technologies for the enterprise storage industry, today announced that it has received $26 million in first round venture funding. Venrock Associates and U.S Venture Partners jointly lead this round of financing. "We believe MaXXan Systems has developed technology to fulfill an emerging business need in the storage industry," said Venrock Associates General Partner Eric Copeland Eric Copeland is an experimental musician from New York. He is a core member of the bands Black Dice and Terrestrial Tones. He also recently just released his first solo effort called "Hermaphrodite" on Paw Tracks Records. . "We're pleased to have them as a member of our investment portfolio." David Liddle David Liddle is co-founder of Interval Research Corporation, consulting professor of computer science at Stanford University, and credited with heading development of the groundbreaking Xerox Star computer system. He has served on the board of many corporations. , General Partner at U.S. Venture Partners, said: "In our opinion, MaXXan has a strong business plan, the right management team and a unique solution that addresses the challenges in the growing data storage market." "In today's economic climate, venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] are carefully evaluating new investments," said Lih-Sheng Chiou, MaXXan Systems President. "We are pleased to have such distinguished investment partners working with us as we launch our new company." The company will use the investment to accelerate product development activities and staffing at its facilities in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. and Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . About MaXXan Systems, Inc. (www.maxxan.com) MaXXan Systems is the first company to create next-generation networking infrastructure technologies specifically to meet the needs of businesses deploying large-scale storage networks. Businesses at the enterprise level are faced with extreme data growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. and spiraling costs for managing data. MaXXan products will bring more scalability, reliability and intelligence to storage networks while reducing the cost of management, deployment and ownership of those networks. With his headquarters in San Jose, California, and additional development facilities in Houston, Texas, MaXXan has assembled a world-class team of industry veterans experienced in developing products for the data-communications, telecommunications, storage networking, and Fibre Channel markets. About Venrock Associates (www.venrock.com) Venrock Associates was founded as the venture capital arm of the Rockefeller Family and continues a tradition of funding entrepreneurs that now spans over six decades. As one of the oldest venture firms in the United States, Venrock maintains a tradition of collaboration with talented entrepreneurs to establish successful, enduring companies. Venrock activities have focused on early stage companies in Information Technology and Healthcare with investments in Intel, Apple, Stratacom, Check Point Software, Visual Networks, DoubleClick, Genetics Institute, Millennium Pharmaceuticals, Oratec Interventions, and Caliper caliper Instrument that consists of two adjustable legs or jaws for measuring the dimensions of material parts. Spring calipers have an adjusting screw and nut; firm-joint calipers use friction at the joint to hold the legs unmoving. Technologies. About U.S. Venture Partners (www.usvp.com) US Venture Partners (USVP) is a venture capital firm dedicated to helping entrepreneurs build world class companies that are leaders in their industry. Since its inception in 1981, USVP has raised more than $2.5 Billion in eight funds, including a $1 billion fund that closed in January 2001, and has invested over $1.1 billion in more than 271 companies. USVP investments include such notable industry leaders as Sun Microsystems, New Focus, Checkpoint Software Technologies, Nuance Communications, AMCC AMCC Applied Micro Circuits Corporation AMCC Air Mobility Control Center AMCC Ashore Mobile Contingency Communications AMCC Advanced Materials Commercialization Center AMCC allied movement coordination center (US DoD) , MMC See MultiMediaCard and Microsoft Management Console. Networks, Centillium Communications, Stratacom/Cisco, and CacheFlow. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion