Proceeds to fund expansion of global distribution for its award-winning
storage virtualization and automated data migration software solutions
WALTHAM, Mass., Feb. 20 /PRNewswire/ -- Incipient, Inc., a leading
provider of enterprise-class storage virtualization and automated data
migration software solutions, announced today that it has closed a $15.6
million Series E round of funding from existing investors including Globespan
Capital Partners, GrandBanks Capital, HLM Venture Partners, Greylock,
QuestMark Partners, Sigma Partners, and Wasatch Advisors, as well as a new
investor. Incipient will use this new funding to expand global sales and
marketing initiatives for its enterprise-class award winning storage
virtualization and automated data migration software solutions now being used
by leading financial services organizations to automate and virtualize their
data center operations.
"We are pleased with the continued steadfast support and confidence of
this storage-savvy investor group participating in this latest round of
funding," said Ric Calvillo, CEO and co-founder of Incipient. "Over the last
year we have seen a dramatic increase in customer traction and interest in
both our storage virtualization and automated data migration solutions within
the financial services market segment. We see this interest accelerating
globally over the upcoming year as we uniquely address the desire by large
financial services accounts to automate and virtualize data center operations
to manage complexities associated with storage growth and business service
requirements."
"The need to automate and virtualize data center operations is a top
priority for global financial services entities and Incipient is uniquely
well-positioned to capitalize on this rapidly evolving market opportunity,"
said Bill Helman, general partner, Greylock. "We look forward to working with
and continuing to support Incipient as they execute on the major market
opportunity they are now prepared to exploit with their enterprise-class
solutions."
About Incipient
Incipient, Inc. is a leading developer and provider of patented storage
virtualization technology and automated data migration solutions that enable
companies to cost effectively and non-disruptively manage enterprise SAN-based
environments. Incipient is a privately held software company with corporate
headquarters in Waltham, MA. For more information, please visit
http://www.incipient.com.
Incipient, Incipient Network Storage Platform, iNSP, Incipient NSP,
Incipient NSP Administrator, Incipient NSP Snapshot, Incipient NSP
Replication, the Incipient NSP logo, Enterprise Intelligent SAN, and all other
Incipient product names and slogans trademarks or registered trademarks of
Incipient, Inc.
SOURCE Incipient, Inc.
Press and Analyst Contacts: Kelly Murray, +1-978-597-3377,
kmurray@incipient.com, or Jacqueline Sagl, +1-978-265-3663,
jsagl@incipient.com, both of Incipient, Inc.
