LeftHand Networks Secures Additional Funding - EnterpriseStorageForum.com

LeftHand Networks Secures Additional Funding

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LeftHand Networks(TM), a Network Unified Storage (NUS) solutions company, today announced it has received an additional $5.5 million in Series A funding.

According to the company, the investment comes from William Blair New World Ventures and Wasatch Venture Fund a Draper Fisher Jurvetson affiliate, and brings total funding for LeftHand to $19.4 million. Both companies are new investors for LeftHand Networks. The funds will be used for development, marketing, and sales of LeftHand's recently introduced NSM 100 product.

"As enterprise storage requirements continue to explode, LeftHand's NUS solution will address significant needs that remain unmet due to the limitations of current network storage," said Adam Schecter, Principal of William Blair New World Ventures, who will join the company's board of directors. "They have developed an exceptional product and recruited a stellar management team to execute on its plan."

LeftHand plans to ship the NSM 100, its debut product, commercially in December of 2001; a base unit is slated to sell for under $15,000.

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