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[January 21, 2004]
DataCore Follows Year Of Growth With New Funding
At the conclusion of a year marked by record revenue and customer growth, DataCore Software secured a new round of financing to further accelerate the company's rapid expansion of software sales in the storage network market. This latest infusion of capital, led by New Enterprise Associates, Flagship Ventures and Vista Equity Partners, comes on the heels of DataCore's 2003 record year, during which the company doubled its customer ranks from the previous year and achieved better than a 40% increase in SANsymphony software end-user sales revenues.
In addition to the growth in SANsymphony, in 2003 DataCore added many new product capabilities and set a new standard for price/performance. Recent SANsymphony wins and expanded relationships, such as Carilion Health Systems, Donaldson Filtration, Marlborough Stirling, Stanford University, Southwest Bank of Texas and Catlin Insurance, exemplify the quality of companies that contributed to growth. These companies illustrate DataCore's universal value to enterprises of all sizes and in all industries.
Customers and industry benchmarks validate DataCore's ability to greatly accelerate and redefine storage performance. DataCore holds the record for price/performance using the Storage Performance Council (SPC) Benchmark. The record was set on standard commercial off-the-shelf Intel-based servers powered by DataCore(tm) software. The benchmark results proved that software-driven storage, which enables hardware independence, can exceed the results of traditional purpose-built storage arrays.
DataCore intends to use the proceeds of its recent financing to build on its record-breaking price/performance and proven technologies by introducing software to the market that defines and empowers a new class of "storage servers." The company will use its advanced software capabilities to exploit emerging market opportunities and trends such as the emergence of iSCSI over Ethernet (ie, IP-based) storage networking, the rising market penetration of low-cost serial-ATA disk technology, and the developing storage server segment. DataCore significantly enhances the value of all of these technologies with its software's superior functionality and performance. DataCore is targeting storage and server suppliers, who benefit greatly from the ability to build and sell next-generation storage servers, enhance low-cost storage solutions, and create new products and appliances for the iSCSI market.
DataCore is addressing the needs of new and existing customers with its announcement of SANmaestro(tm) - storage resource utilization, management, and performance analysis suite, which is available for shipment in January. SANmaestro is designed to meet customers' demands for enhanced storage performance and resource analysis. SANmaestro provides a rich software environment and tools to enable storage users to evaluate and plan their performance and storage resource utilization.
"DataCore is well positioned with funding in place, a market leading price/performance advantage, growing SANsymphony customer base and new products aimed at new user and business partnerships. We are realizing the company's vision by providing software that fundamentally changes the economics of the storage industry for the better," stated George Teixeira, CEO and president of DataCore Software.
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