Startup Sepaton Looks to Data Protection Market
Virtual-tape storage technology startup announces it has received $23.5 million in fourth-round funding.Sepaton Inc. recently announced $23.5 million in fourth-round funding, led by Menlo Ventures. Also participating were new investor Valhalla Partners and existing investor Jerusalem Ventures Partners (JVP). "Theyre in a market segmentvirtual tape and disk-based data-protection systemsthat is going to be among the hottest over the next two years," said Enterprise Storage Group analyst Peter Gerr.
Sepatonwhich not coincidentally is "no tapes" spelled backwardshopes to nab its share of those customers. The start-up has 20 customers so far, and expects to close on another ten soon, the company said.