Compellent Corrals $15M

"Compellent Technologies Inc. picked up $15 million in funding today, which execs hope will help it to a permanent place in an expanding midrange market (see Compellent Gets $15M). The round brings Compellent's total funding to $38 million. CEO Phil Soran hopes that will be enough to take the Minneapolis-based startup to profitability. He says the 65-person company might hire a few extra hands, but the funding will mostly go toward expanding its channel."

[Byte and Switch]

Not many storage companies in Minnesota. What gives? Crescendo, El Dorado, Cargill and Centennial (lead) all seem fairly bullish on the company as they have participated in this latest round of financing.