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Coraid Stores $50 Million New VC Financing

Friday, November 04, 2011 5:50:00 AM PDT | VentureDeal Staff

   Redwood City, California  --  Storage technology company Coraid has secured $50 million in growth venture capital investment.

Coraid has created Ethernet-based storage technologies that it says offer a 5-8x price performance advantage over legacy storage systems.

Crosslink Capital led the round, which also included Menlo Ventures, Allegis Capital, Azure Capital Partners, Silver Lake affiliates and Kinetic Ventures.

The company said it would use the financing to expand its global operations.

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