WhipTail Technologies, Inc., a Whippany, New Jersey-based manufacturer of solid state storage arrays for the commercial, enterprise and government markets, has closed its Series A venture financing.
The round, whose amount remained undisclosed, was led by Spring Mountain Capital, LP, with participation from RRE Ventures.
Following the investment, SMC and its affiliates (the firm made the commitment principally through its SMC Select Co-Investment Fund I) have become majority investors in WhipTail. In conjunction with the financing, SMC Managing Directors Raymond Wong, Avi Faliks and Jamie Weston have joined the company’s Board of Directors.
WhipTail plans to use use the proceeds from the financing to accelerate the expansion of its sales and marketing efforts as well as develop new products. The company is focusing on hiring sales teams in the U.S. and Europe, developing key strategic partnerships, and enhancing reseller channels.
Founded in 2007 and led by CEO Dan Crain, WhipTail manufactures pure solid-state storage arrays designed to improve the scalability and performance of applications such as virtualization, databases, financial trading and email.
FinSMEs
05/07/2011