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PowerFile Powers Up With $10 Million Series C

Monday, July 30, 2007 5:00:00 AM PDT | VentureDeal Staff
SANTA CLARA, CA  -- IT company PowerFile, Inc. has received $10 million in third round venture capital financing, according to a report in PE Week Wire.

PowerFile has developed "active archiving" appliances that enable permanent storage of digital content and assets.  The company's solutions combine software and hardware and are targeted at organizations of all sizes.

Investors in the round were Northgate Capital, Sequoia Capital and Silver Creek Ventures.  Proceeds purposes were not disclosed.

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