BlueArc Secures Funding of $15 Million

"BlueArc Corporation, provider of the world's highest performance, most scalable network storage systems, today announced it has secured $15 million in funding, targeted at expanding routes to market, enabling aggressive market share expansion, increasing the company's marketing and sales efforts, development of innovative technology and expansion of strategic partners.
This funding, bringing BlueArc's funding to $175 million in aggregate, comes on the heels of the company's most successful year of growth ever in both revenue and customers, seeing a doubling of revenue growth from 2003 to 2004, and customer growth of 60 percent, with strong repeat revenue. With high-profile wins at companies including C.O.R.E. Feature Animation, DKP Studios, Ibis Consulting, Meteor Studios, Washington University in St. Louis and WebTrends representing a fraction of the new customers BlueArc has been awarded in the last year, BlueArc is poised to accelerate marketplace momentum and seize opportunities available in the rapidly growing network storage market -- through unique product differentiation and focused execution. As enterprise companies everywhere are evaluating the addition and expansion of network storage as a key asset to their business, BlueArc aims to further capitalize and extend its innovative technology and architecture into new opportunities, including partnerships with major storage industry players. "