Can't have too much good industry news like this: CEO Mark Ward and data storage device maker Copan Systems announced Feb. 16 an $18.5 million round of financing from a group of venture capital companies.
The company said it will use the money to expand product development and sales efforts. Wise choice of options.
Copan specializes in enterprise data storage systems that can store massive amounts of information, generally for organizations in the financial services, media, science, health care and government sectors. Its products also are very energy-efficient.
The company utilizes tiered enterprise MAID architectures that can scale from 28TB to 8PB within a single chassis.
Copan's customers include Lockheed Martin, the U.S. Army, AOL-Time Warner, Facebook, MySpace, Sprint, Comcast and NASA.
Westbury Partners of Westbury, N.Y, led the investment round. Other participants were previous Copan Systems investors Credit Suisse, Austin Ventures, Globespan Capital Partners and Firstmark Capital.