Monday, September 17, 2007

COPAN Systems Draws $32.4M in Series D Funding

COPAN Systems, a manufacturer of massive array of idle disks data storage systems, announced Monday that it has raised $32.4 million in Series D venture funding. COPAN said Battery Ventures led the effort, while existing investors Austin Ventures, Globespan Capital Partners, Pequot Ventures, Credit Suisse, Gold Hill Capital, Presidio STX and NTT Leasing Capital also participated. COPAN noted that it will use the funds to invest in next-generation technologies, increase marketing and promotional activities, and expand its sales efforts in Europe, Asia Pacific and Japan. The Longmont, Colo.-based company added that it has raised $88.4 million since its founding in 2002. More information »