Storage networking firm Sanera secures $35M

By siliconindia   |   Thursday, 03 July 2003, 07:00 Hrs   |    1 Comments
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SUNNYVALE, CA: Sanera Systems, Inc., a provider of enterprise storage networking solutions, announced today that it has received $35 million in third round financing. The round was led by Sanera?s current investors, including ArrowPath, CMEA Ventures, Enterprise Partners Venture Capital, Goldman Sachs, Greylock and Storm Ventures. To date, Sanera has raised a total of $101 million in financing. ?With this additional investment, Sanera is poised to deliver its DS10000 datacenter-class director product to market, expand its customer and channel relationships, and capitalize on the exponential growth of datacenter storage networks,? said Alex Mendez, Chairman, Sanera Systems. According to IDC, the director chassis market is the fastest growing switch segment, growing from $375M in 2002 to $1,272M in 2007, a CAGR of 23%. The market growth is fueled by consolidation of storage and server resources and the emerging need for intelligent, highly scalable datacenter-class switches. Raj Cherabuddi, Vice President Engineering founded Sanera along with Joseph Chamdani, Vice President Systems Integration.