Coraid Inc., a developer of Ethernet SAN solutions, has raised $50 million in venture capital. Crosslink Capital led the investment round. Existing investors Menlo Ventures, Allegis Capital, Azure Capital Partners and affiliates of Silver Lake also participated.
New investors including Seagate Technology and Kinetic Ventures also provided the funding. Coraid will use the financing to boost global operations and accelerate innovation in storage and cloud orchestration. It recently acquired cloud orchestration software vendor Yunteq to enable policy-based automation of storage, networks, and security for public and private clouds.
Click here for the release from Market Wire.