Tacit Networks Inc. has garnered $16.9 million in a series B of venture capital financing, led by new investors J P Morgan Partners jointly with CTTV Investments of Chevron Texaco Technology Ventures. Tacit, a company specializing in wide-area file services (WAFS) software, plans to invest it’s funding in various ways that will expand go-to-market activities.

Tacit’s CEO Greg Grodhaus said, “the new input was ‘a greater than 60 percent up round’ and will be used to further develop the company’s sales, marketing, and support. We also hope that the profitability-milestone, will be reached by the end of 2005.”

This New Jersey-based company is investing in marketing and sales operations, both in the U.S. and internationally. “The plan is to build worldwide recognition of Tacits’ products and the value it offers to its customers. Along with this, we are also looking forward to increase worldwide support and testing operations to ensure product support and compatibility in a wide range of customer environments. A portion of the funding will also be allocated for research and development,” says Shirish Phatak, founder, CTO and VP of Engineering, Tacit Networks.

Tacit recently acquired the Phonix-based AttachStor, making it offer e-mail consolidation and management, along with its regular Unix- and Windows-based wide area file sharing products for companies with geographically distributed operations, regardless of size. Founded in July 2000, Tacit has employee base of 51 and has raised $24.2 million to date. Currently, the company has 21 customers, including Mullin Consulting and North Point Software and Services. Out of which, seven of whom are Fortune 500 companies, have deployed Tacit technology in the Americas, Europe and Asia and represent a cross-section of verticals, including energy, defense, pharmaceuticals, consulting, manufacturing, and medical.

Asked how long will this funding last, Shirish said, “Until Tacit reaches both positive cash flow and profitability.”