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Data storage firm Copan Systems receives USD18.5m from venture backers

Copan Systems, a provider of storage solutions for the protection and management of persistent data, has secured USD18.5m in capital financing.

Copan Systems, a provider of storage solutions for the protection and management of persistent data, has secured USD18.5m in capital financing.

The round was led by new investor Westbury Partners and includes participation from existing Copan Systems investors Austin Ventures, Globespan Capital Partners, Firstmark Capital and Credit Suisse.

The funding will help expand the company’s product development, sales, marketing and channel efforts globally.

‘Today’s enterprise data centers are storing massive amounts of persistent data and the requirements of growth far exceed the storage budgets currently earmarked,’ says Jim Schubauer, president of Westbury Partners. ‘Copan has proven to the Enterprise consumer that its 300 series systems for data protection and archiving deliver 3X- 10X the useable storage capacity at the same cost of traditional transactional storage systems at one tenth of the operating cost.’

Copan Systems specialises in storing fixed, long-term, infrequently-accessed data, also known as persistent data, which represents more than 75 per cent of all data currently under management.

Copan says it has seen massive market adoption in healthcare, media and entertainment, technology, education, financial services and government.

‘Increasing energy efficiency and reducing data center footprint are fundamental goals in the technology decisions of every company and government agency,’ says Mark Ward, president and chief executive of Copan Systems (pictured). ‘We’ve enabled our customers to dramatically increase the amount of digital assets stored online at a fraction of the cost of traditional disk storage vendor solutions. Copan owns the industry leadership position in the fastest growing portion of the storage market.’

Westbury Partners is a provider of flexible preferred equity and subordinated debt capital.

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