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Insight Venture Partners and Updata Partners Invest $30 Million in Storage Virtualization Leader DataCore Software
DataCore Software Corporation, the leading vendor of hardware independent, storage virtualization software, today announced that it has accepted a $30 million equity investment from Insight Venture Partners and Updata Partners.  

“Insight Venture Partners has built its reputation on finding and investing in companies poised for tremendous success in the industries in which we specialize,” said Jeff Horing, Managing Director, Insight Venture Partners. “DataCore is perfectly positioned as the virtual storage foundation for all server and desktop virtualization platforms, regardless of vendor. We believe that storage virtualization will eventually be as big as server virtualization and that DataCore will be the big beneficiary of this trend.”  

“DataCore has gained global customer traction with superior storage virtualization and storage management solutions,” said Barry Goldsmith, General Partner, Updata Partners. “We are pleased to invest in a company that has already had significant impact in its market and is well-positioned for high growth.” 

Insight Venture Partners is the leading private equity and venture capital firm focused on the global software and Internet industries. Updata Partners is a leading information technology-focused venture capital firm whose general partners have been active as investors and operators in the IT industry for more than two decades.

“When Insight and Updata approached us, it was clear that they already understood that DataCore has become the storage virtualization and SAN management solution of choice in the server and desktop virtualization space,” said Ziya Aral, Chairman and CTO, DataCore Software. “We are glad to have these two excellent firms as part of the team.”

Published Monday, April 28, 2008 6:06 AM by David Marshall
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