Mark, did Bank of America securities tell you about this?
>YottaYotta Inc., a 20-month-old Kirkland Internet storage start-up, will announce a $26 million round of funding today that it will use to market its first product early next year.
To date, the privately held company -- with 166 employees in offices in Kirkland; Boulder, Colo.; and Edmonton, Alberta -- has raised $50 million.
YottaYotta's technology will increase data storage while enhancing performance and reliability, the company said.
Investors in the company include Banc of America Securities, Noble Networks, Bombardier Trust, Davenport Capital Ventures and others.
Gartner Group estimates the Internet storage market hit $30 billion last year and is on track to top $40 billion next year. The company takes its name from the term yottabyte, which translates into 1 trillion terrabytes of data.
Potential competitors in the storage networks sector include Cereva Networks, 3PAR Data, BlueArc and Pirus Networks. |
