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datacore.com
DataCore Software Completes Financing of Over $35 Million
Storage Networking Software Provider Receives Additional Funds to Help Scale Quickly, Serve Growing Industry Need
Fort Lauderdale, Fla. (July 31, 2000) - DataCore Software(tm) Corporation, an innovator in storage networking software, announced today that it has successfully completed second round equity funding of over $35 million. This latest round will help scale DataCore's strategic and organizational growth, both organically and through acquisition.
Van Wagoner Capital Management, a multi-billion dollar mutual fund, led this investment round. New financial investors JT Ventures, Banc of America Securities and Dain Rauscher Wessels joined initial investors OneLiberty Ventures and New Enterprise Associates in this latest round of funding. Intel Capital was also an investor in this round.
"With the growth rate of the storage networking market projected at more than 50 percent annually for the next three years, we're looking at enormous opportunities," said George Teixeira, president and chief executive officer of DataCore Software. "The market for storage networking is at an all-time high. This capital will be used to help expand our sales and marketing efforts to serve the needs of our customers - and help us to grow and scale with them in the future."
"DataCore is an early innovator in providing storage server software for the Intel Architecture Platform," said Tom Macdonald, director and general manager of Intel's Fabric Components Division. "Intel looks forward to working with DataCore to optimize its software to take advantage of both Itanium(tm) processor platforms and the InfiniBand architecture, a new input/output standard that will deliver new levels of scalability and reliability to all types of servers."
DataCore's Teixeira adds, "The collaboration with Intel will aid DataCore Software's efforts to accelerate the adoption of Intel's IA-64 product family and InfiniBand technology in our targeted market space - storage networking.
Today, Fibre Channel solutions dominate; the talk is SCSI over Internet Protocol; and clearly InfiniBand has the momentum to be the next general purpose I/O standard. Likewise, proprietary processing systems dominate storage control, and systems based on Intel's IA-64 product family will provide users with much more powerful solutions and greater freedom of vendor choice. Our SANsymphony(tm) software is designed to give storage networking users total flexibility in all these evolving choices."
DataCore SANsymphony Available Today for SAN Management and Control
As storage needs continue to rise dramatically, DataCore Software has developed a powerful software-based management and control solution to help companies meet the challenges of managing storage in highly fragmented and proprietary environments.
Launched in May, SANsymphony, the company's flagship storage domain server software, supports all leading storage devices from storage servers running on UNIX(r), Windows(r) NT, Netware(r) and Linux(r), to the high-speed fibre channel devices that form the backbone of storage area networks. Its cross-vendor compatibility makes SANsymphony the first shipping solution that bridges disparate islands of storage.
SANsymphony converts these `islands' into a single networked storage pool, letting IT managers and network administrators easily allocate storage capacity on an as-needed basis, using a simple `drag-and-drop' interface. Now they can move these `virtual' volumes among different servers -regardless of the underlying operating system.
About the Company
DataCore Software Corporation is an innovator in storage networking software. Its first product, SANsymphony, helps companies respond to accelerating growth and change in storage requirements by creating a shared storage pool from networked storage elements. Through channel and OEM partners, DataCore serves information-intensive organizations. Founded in 1998 by some of the industry's most respected storage technologists, DataCore is headquartered in Ft. Lauderdale, Fla., with branch offices in Research Triangle Park, Silicon Valley, and Europe. Worldwide, the company has over 120 employees focused on delivering storage software solutions. The company is privately held. DataCore is an active member of the Storage Networking Industry Association (SNIA) and the Fibre Channel Industry Alliance (FCIA). For more information, call 877/780-5111 or visit www.datacoresoftware.com.
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