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The ever-expanding needs for storage and less-expensive management of stored data continue to lure venture capital. Agile Storage, which is developing a networked storage system, took home $26 million last week, and Sanera Systems was handed $10 million by Goldman Sachs to help develop its data center-class switch for storage area networks.
Demand for storage is growing at a rate of 80% annually and will reach nearly 2,000 petabytes by next year, according to International Data Corp. (see story, "Bigger, Smarter, Cheaper").
Worldview Technology Partners led the financing round for Agile, which is still months away from releasing its first product. The Los Gatos, Calif., company's products address the lack of interoperability between the myriad software programs that manage storage servers, says Randy Kerns, an analyst with the Evaluator Group. Agile targets small businesses with technology to automate tasks and save money.
Sanera, in Sunnyvale, Calif., raised $38.3 million just six months ago. The company says its switch facilitates highly reliable and scalable storage networking and makes managing high volumes of data much easier.