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
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
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