Alacritech Secures $13 Million in Series C Funding
Strategic Investors Bank on Storage Visionary Larry Boucher's Third Company
San Jose, Calif. — January 21, 2002— Alacritech®,
Inc., the innovator of accelerator solutions that enable fast and efficient
servers and storage systems, today announced the completion of its Series
C financing. Led by returning venture capital investor Berkeley International
Capital Corporation, the $13 million round also includes Munder Capital
Management, Needham Capital Partners and Quantum Technology Ventures. This
round brings the total investment in Alacritech to more than $35 million,
demonstrating the confidence investors have in Alacritech's continued leadership
position with innovative TCP acceleration solutions for networked storage.
Alacritech is headed by storage pioneer Larry Boucher, who also founded and brought public leading storage companies Adaptec, Inc. and Auspex Systems, Inc. Alacritech is known for delivering breakthrough technology. With this round of funding, the company plans to expand sales efforts surrounding its new line of Gigabit Ethernet server and storage accelerators for network-attached storage (NAS), Internet SCSI (iSCSI) storage devices and servers. The company has completed designs for its upcoming 10 Gigabit Ethernet accelerator, the fourth generation of its patented TCP/IP offload solution, and will use the funding for further product development.
"Boucher's long-time ability to solve seemingly impossible networking and storage technology issues, the company's significant OEM partnerships, and proven TCP acceleration technology deployed in hundreds of networks worldwide - all this is a testament to Alacritech's power to execute - even in this volatile economy," said Arthur Trueger, chairman, Berkeley International Capital Corporation.
"The converging storage and networking market is predicted to grow to $35 billion by 2004, making it one of the fastest growing segments in the computer industry," said Steve Schlossareck, vice president and managing director, Quantum Technology Ventures. "Alacritech, with its winning management team, leading-edge technology and designs for its future 10 Gigabit solution completed, is well positioned to seize this enormous market opportunity."
"We are pleased to complete this round of financing with this caliber of investors," said Larry Boucher, founder, chairman and CEO, Alacritech, Inc. "Alacritech's TCP/IP offload and acceleration capability is not only faster and more efficient than traditional network interface cards and iSCSI host bus adapters, but our adapters are the first and only to simultaneously accelerate both IP storage and standard Ethernet traffic. These funds will further ramp our product development in effort to be first-to-market with a 10 Gigabit Ethernet accelerator for servers and storage."
About Alacritech, Inc.
Alacritech was founded by Larry Boucher, creator of the SCSI interface, to deliver upon his vision of eliminating the server bottleneck. Today, Alacritech, Inc. is the innovator of network accelerator solutions that enable fast and efficient servers and storage systems. Alacritech's complete line of high-performance server and storage accelerators is based on the company's patented SLIC (session-layer interface card) Technology to optimize the performance of servers, network-attached storage and iSCSI storage devices. SLIC Technology is the first fully compatible and scalable technology to offload network protocol processing, primarily TCP/IP, from software on the host system to silicon on the adapter. Based in San Jose, California, Alacritech is privately held. Alacritech is a member of the 10 Gigabit Ethernet Alliance and the Storage Networking Association (SNIA) and a founding member of the SNIA IP Storage Forum. For more information about Alacritech and its products, please visit the company's Web site at www.alacritech.com.
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Alacritech, the Alacritech logo, SLIC Technology, and the SLIC Technology logo are trademarks of Alacritech, Inc. in the United States and Europe. Other marks belong to their respective owners.
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