Spring Mountain Capital, a New York-based investment management firm led the Series A Preferred Stock financing for WhipTail Technologies, an independent manufacturer of solid state-storage arrays designed to improve the scalability and performance of applications, such as virtualization, databases and email. RRE Ventures also participated in the round.
Financing terms were not disclosed.
With the investment, Spring Mountain Capital and its affiliates have become a majority investor in WhipTail. In conjunction with the financing, SMC Managing Directors Raymond Wong, Avi Faliks and Jamie Weston have joined the company’s Board of Directors.
WhipTail will use the financing to accelerate the expansion of the its sales and marketing efforts as well as support additional product development. Sales efforts are being ramped up in the U.S. and Europe through the hiring of sales teams, the development of key strategic partnerships, enhancement of the company’s reseller channels and provisioning of key marketing support to that channel.