Santa Clara, CA-based NeoPath Networks has closed a Series A round of financing. August Capital and DCM-Doll Capital Management co-led the financing round. Also participating in the round were DotEdu Ventures and Bill Joy through HighBAR Ventures.

The company is developing a new class of intelligent file management technology that addresses the growth of unstructured file data. “There is a huge opportunity proffered by the growing amount of unstructured data,” says Vivek Mehra of August Capital. “NeoPath’s solution deploys into existing storage infrastructure and offers data scalability and management functions.”

“While significant progress has been made in managing and deploying SANs for block-level application storage, the fact remains that a vast majority of content is accessed as unstructured file data,” according to Arun Taneja, President of the Taneja Group. “A management strategy that embraces the value-centric nature of data can free up captive resources, leverage new storage technologies, and improve decision making and competitive position of an enterprise.”

Riding on this promising wave is Rajeev Chawla, founder, president and CEO of NeoPath. Chawla founded Neopath in May 2002 along with Anand Iyengar, CTO, Panagiotis (Panos) Tsirigotis, VP & Chief Software Architect and Thomas K Wong, VP -Engineering. NeoPath is rapidly expanding its team as it exits from stealth mode and prepares for its first product release. “We're reaching a stage where we need to get credibility for the company,” says Chawla. Leaving stealth mode and disclosing the financing, he says, is important as the company begins lining up customers.