Capital, Dell, Enron Broadband, LSI Logic, StorageNetworks and Others Invest Business Editors/High-Tech Writers BRIDGEWATER, N.J.--(BUSINESS WIRE)--Nov. 13, 2000--StorageApps, a provider of network storage appliances and software applications, today announced the completion of a $50 million strategic financing round led by Bowman Capital. The investment comes from a group of investors and customers, including Bessemer Trust, Bowman Capital, Dell Ventures, Enron Broadband Services, LSI Logic Storage Systems, and StorageNetworks, Inc. This round brings the total invested in StorageApps for the year to $75 million and adds to the current list of strategic partners that includes The Blackstone Group and Soros. "We are delighted with the commitment demonstrated by the investment of our strategic partners in StorageApps and are pleased to have many of them as customers, too," said Dan Petrozzo, president and chief operating officer of StorageApps. StorageApps appliances and applications enable customers to connect virtually any type of storage devices with any servers over any connection type. The company provides 24-hour, 7-days a week service to worldwide customers that range from Fortune 100 companies in financial services to dot.com and hosting companies. More information on StorageApps and its Proactive Network Storage Solutions portfolio is available at www.storageapps.com. Background on the Investors The Bessemer Group and its subsidiaries (www.bessemer.com) form a wealth-management and investment advisory firm serving high-net-worth individuals and select institutions since 1907. Bowman Capital (www.bowmancapital.com), an investment firm in Silicon Valley with offices in London and New York, specializes in both public and private technology growth companies. Dell Ventures is the business group at Dell Computer Corporation (Nasdaq: DELL) responsible for strategic investment activity and for incubating early-stage private companies. Dell Ventures makes strategic investments that support Dell's business initiatives regarding new technologies, services or customer markets. Enron Broadband Services (www.enron.net), a subsidiary of Enron Corp. (www.enron.com; NYSE: ENE), is a leading provider of high-quality, high-bandwidth delivery and application services. Enron Broadband is also creating a market for bandwidth that will allow network providers to scale to meet the demands of increasingly complex applications. Enron is one of the world's leading electricity, natural gas and communications companies. LSI Logic Storage Systems, Inc., a subsidiary of LSI Logic Corporation (www.lsilogic.com; NYSE: LSI), is a provider of high-performance, highly scalable, open storage solutions for the enterprise that are available under the MetaStor brand name (www.metastor.com). StorageNetworks, Inc. (www.storagenetworks.com; NASDAQ: STOR) is the world's first Storage Service Provider (SSP). StorageNetworks makes managed data storage as accessible as phone or electric utility services. This allows enterprises with large and rapidly growing volumes of business-critical information to store, protect and access it more easily, reliably and efficiently, while allowing them to focus on growing their business. StorageApps and the "Diamond S" logo are trademarks of StorageApps Inc. MetaStor is a registered trademark of LSI Logic Storage Systems. StorageNetworks is a servicemark of StorageNetworks, Inc. Other tradenames and trademarks used herein are the property of their respective owners.
Strategic Partners Invest $50 Million in StorageApps; Bowman
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