Byte&Switch: Sistina Seeds Growth
Wednesday February 12 2003 @ 05:07PM EST

Sistina Software Inc. announced today that it has secured $10 million in Series B funding, following what it says was significant customer traction last year. The round brings its total investment to date to $20 million (see Sistina Picks Up $10M).

The Minneapolis-based global file system company expects the funding to carry it through to profitability by year's end. The lead investor was Crescendo Ventures -- an investor in NuSpeed, the storage router company acquired by Cisco Systems Inc. (Nasdaq: CSCO - message board) -- with additional investment from St. Paul Venture Capital and Validus Partners.

Sistina, which makes a clustered file system based on the open-source Linux kernel, says it was able to raise the funds because it won 50 new customers in 2002. "And that's despite the bad economy," notes JoaquĆ­n Ruiz, VP of marketing and product management at Sistina.

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