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Copan Raises $17.5M

Longmont, Colorado-based COPAN Systems has raised a Series C venture capital round worth $17.5M. The round was led by Credit Suisse, with participation by existing backers Austin Ventures, Globespan Capital Partners, Pequot Ventures, Pinnacle Ventures, and Horizon Technology Finance. This funding round brings the total raised by Copan to $56.5M. Copan said that the funding round will be used to scale its product development initiatives, for worldwide service delivery, and for additional field-based storage experts. Copan is a provider of hardware used in the storage field for near-line, disk-based storage. More information »