Monday, March 30, 2009

Pliant Gains $15M In Series C

Milpitas-based solid state disk drive manufacturer Pliant Technology Inc. announced today that it has concluded a third round of venture financing worth $15 million. The firm said the round was led by Menlo Ventures, and also included existing backers Lightspeed Venture Partners, Arcturus Capital and Divergent Ventures as key participants. Pliant added that it will use the Series C funds to ramp up production of its enterprise flash drives, which Pliant said offer better performance but consume less power than traditional disk-based hard drives. In a related move, Pliant reported that Mark A. Siegel, Menlo Ventures' managing director, has joined Pliant's board of directors. More information »