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Copan Systems raises additional $18.5 million

By SiliconIndia | Wednesday, 18 February 2009, 03:07 Hrs

Longmont: Copan Systems, the industry leader in cost-effective storage solutions for the protection and management of persistent data, has secured $18.5 million in new capital financing. The round was led by new investor Westbury Partners and saw participation from existing Copan Systems investors Austin Ventures, Globespan Capital Partners, Firstmark Capital and Credit Suisse. The funding will help expand the company's product development, sales, marketing and channel efforts globally and build on its success in the enterprise data storage market.

"Today's enterprise data centers are storing massive amounts of persistent data and the requirements of growth far exceed the storage budgets currently earmarked," said Jim Schubauer, President of Westbury Partners. "Copan has proven to the Enterprise consumer that its 300 series systems for data protection and archiving deliver 3X- 10X useable storage capacity at the same cost of traditional transactional storage systems at 1/10th the operating cost. The substantial ROI benefits include higher reliability, higher data integrity, reduced power and cooling requirements, and a significantly smaller data center footprint. Copan's existing investor base, in support of Mark Ward, CEO, and his team, represent the type of successful foundation that Westbury seeks to build upon," Schubauer added.

Forty percent of power consumption in the data center today is for storage according to InfoPro, a research analyst firm. Copan Systems specializes in storing fixed, long-term, infrequently-accessed data, also known as 'persistent data,' which represents more than 75 percent of all data currently under management.

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