DataCore Raises $30 Million In Equity Investment


DataCore Software Corporation, a US-based vendor of storage virtualization software, today announced that it has accepted a $30 million equity investment from Insight Venture Partners and Updata Partners.


DataCore is a global, privately-held company that was founded in 1998 and has offices in the Americas, Europe and Asia. They are the makers of SANMelody (storage management platform for larger scale networks), SANSymphony (converts PC servers into expansion “disk servers”) and SANMaestro (a “spreadsheet simple” approach to monitoring, analyzing and reporting critical storage and Windows events).

“Insight Venture Partners has built its reputation on finding and investing in companies poised for tremendous success in the industries in which we specialize,” said Jeff Horing, Managing Director, Insight Venture Partners. “DataCore is perfectly positioned as the virtual storage foundation for all server and desktop virtualization platforms, regardless of vendor. We believe that storage virtualization will eventually be as big as server virtualization and that DataCore will be the big beneficiary of this trend.”

DataCore had previously raised around $85 million over four rounds of funding, from firms like Flagship Ventures, New Enterprise Associates, Scale Venture Partners, Intel Capital, Van Wagoner Capital Management and Vista Equity Partners.

Most of those institutions remain minority investors, but they did receive partial liquidity via this new round of financing.

[Source: peHUB]

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