U.S. networking equipment giant Cisco Systems Inc. was one of the investors contributing to StoreAge Networking Technologies Ltd.’s US$25 million second-round financing, the Israeli company announced Thursday
Haifa, Israel-based StoreAge, a storage appliance vendor, uses its “virtualization” technology for the management of heterogenous SANs (storage area networks). Virtualization consolidates and provides uniform management of storage resources for SANs with multiple servers and multiple storage subsystems, according to StoreAge. The company claims the technology is flexible enough to be used in various types of systems with little expense and restructuring cost to customers.
Genesis Partners, IIS Intelligent Information Systems, Morgan Keegan & Co. and others joined Cisco in the second investment round, according to a StoreAge statement. The second round of financing was divided into two phases, the first of $14 million was concluded towards the end of December last year.
The Israeli company will use the cash infusion to build up its commercial infrastructure and support capabilities in addition to designing its next-generation products, StoreAge said in the statement.
StoreAge, based in Haifa, can be reached at http://www.store-age.com/.
