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Tacit Seeded $7.3m
si Team
Friday, January 31, 2003
SOMERSET, NJ-BASED TACIT Networks, Inc., a provider of enterprise-class wide area network (WAN)-based storage consolidation solutions, has raised $7.3 million in its first round of funding from RRE Ventures, Canaan Partners and Silicon Alley Seed Investors. The funding enables Tacit Networks to aggressively pursue its marketing goals and development plans.

“To complete a Series A round in this challenging market environment is a vote of confidence for Tacit,” says Tim Williams, Chairman and CEO of Tacit Networks. “We believe Tacit will lead a conceptual change in the space of wide area file sharing, an area of rapid growth and vital importance to far-flung enterprises and storage vendors.”

Shirish Phatak co-founded Tacit in 2000, along with Trevor Hughes. As its Vice President of Engineering and CTO, Phatak leads the design and development of Tacit Networks’ wide area distributed file system technology and its integration into the company’s NAS caching solutions. Phatak’s team builds appliances that cache file sharing operations. Much like Web caching appliances that improve the performance of content delivery networks, Tacit Storage Caching Appliances dramatically improve the performance of file sharing over WANs. Unlike Web caching devices, however, the cached data is live, writable and coherently sharable with Tacit Networks caching devices located in authorized remote locations. Users experience LAN-speed access to data, even though the data is stored remotely in a data center connected by a WAN.

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