|Exanet Raises $17 Million In Latest Round of Venture Financing; Will Use Funds to Help Bring Next-Generation Storage System to Market
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 4, 2001--Exanet Inc. announced today that it has completed its second round of venture funding, raising a total of $17 million from such firms as Evergreen Canada-Israel Investments Ltd., Intel Capital and Microdent Ltd., as well as individual investors. The funds will be used to help bring Exanet's leading-edge ExaStore" storage system to market.
The ExaStore System uses advanced fabric-based storage clustering technology to deliver storage services that scale in key dimensions including capacity, bandwidth, backup/restore speed, geography and manageability, eliminating the scaling constraints that have impeded the growth of data center storage facilities. The system achieves these benefits through a combination of Exanet's patent-pending ExaMesh* software and industry-standard hardware based on the Intel® Itanium" processor architecture and high-speed InfiniBand interconnect technology. The system will begin beta deployment at a number of companies in early 2002.
"Exanet is pleased that we've received funding from such strong investors," said Exanet chairman, co-founder and CEO Dr. Giora Yaron. "We've already demonstrated our technology, and, with this latest round of financing, we're on track to meet our timetable for commercial delivery."
"Next generation storage is a fundamental part in helping increase data center capabilities," said Lisa Hambrick, Director of Intel's Enterprise Processor Marketing. "Exanet's fabric-based storage clustering technology represents another ingredient to help deliver cost effective, easily managed enterprise systems based on the Itanium processor family."
Headquartered in Santa Clara, CA, with research and development in Herzilia, Israel, Exanet Inc. has created one of the world's first ultrascalable storage system, the ExaStore System. The ExaStore System scales in key dimensions, including capacity, bandwidth, backup/restore, manageability and economy, while consolidating all storage deviceslocal and geographically dispersedinto a single, unified resource.
CONTACT: Exanet Inc., Santa Clara Bruce Silverstein, M.D., 408/492-1444 ext. 330 www.exanet.com.