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 segment—virtual tape and disk-based data-protection systems—that is going to be among the hottest over the next two years,” said Enterprise Storage Group analyst Peter Gerr.
Sepaton—which not coincidentally is “no tapes” spelled backwards—hopes 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.
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