Monday, January 25, 2010

CORAID Snags $10M

Redwood City-based CORAID, a developer of RAID storage and storage virtualization devices, said today that it has raised $10M in a Series A financing round. The round came from Allegis Capital and Azure Capital Partners. As part of the funding, the firm said it has named a new executive team and added a number of directors. CORAID said that Lara Druyan of Allegis, Paul Weinstein of Szure Capital, Mark Leslie, former CEO of Veritas; and Charles Giancarlo, of Silver Lake Partners have all joined the firm's board, with Leslie and Giancarlo investing in the firm. The company also said it has named Kevin Brown as CEO, Audrey MacLean as Chairman, Carl Wright as EVP Worldwide Sales, and Josh Leslie as VP Channels and Business Development. Brown comes from Kidaro, MacLEAN from Network Equipment Technologies; Wright from Kidaro; and Josh Leslie from VMware. More information »