Storage - Tuesday, September 26, 2006
SAN's Compellent On The Road To IPO
Minneapolis-based Compellent has secured $15M led by new investor Nomura International - the final round before its IPO the company says. This news comes on the heald of a couple of other IPOs for storage companies - Riverbed and Comvault. Situated in the midrange storage area network (SAN) sector, Compellent says it will more than double revenue in 2006. Byte and Switch says that Compellent projects $25M in revenue this year, up from $10.5M last year. Compellent claims a few profitable quarters.
In total, Compellent has raised more than $53M. It is led by Phil Soran, John Guider and Larry Aszmann who previously founded and sold Xiotech to Seagate for $360M in 2000. The company competes with public companies like Dell and EMC as well as with 3PARdata, EqualLogic, Intransa, LeftHand Networks, and Xiotech.
Compellent's Goods
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