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StorageWay Gains Equity Investment

StorageWay Gains Equity Investment

Thursday Jun 21st 2001 by Network Storage Forum Staff

Storage-utility service provider raises $42 million from venture firms and tech companies

Storage utility service provider StorageWay said it has received $42 million in equity investments, raising the total equity investment in the company to $98 million.

Leading the new investment are Matrix Partners and Redpoint Ventures. Others include GE Equity, Lighthouse Capital Partners, Montreux Equity Partners, Needham Capital Partners, Sands Brothers, Wheatley Partners and Worldview Technology Partners.

In a short statement, StorageWay said it will use this funding to expand its service offerings, build on its Liquid Architecture technology and extend its network infrastructure.

StorageWay has gained a cumulative total of $150 million in equity and lease financing since the company's inception in October 1999.

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