| January
10, 2006
SilverStorm Technologies Closes $13
Million in Funding
Rapid Sales Growth Drives New Investment
King of Prussia, PA (January 10, 2006)
— SilverStorm Technologies,
the leader in high performance interconnect
solutions for clustered computing,
today announced that it has closed
on an additional $13 Million of funding
to support its growth initiatives.
The round was led by new investor
Core Capital Partners, a $370M technology
focused venture capital firm located
in Washington DC. Core Capital was
joined by new investor Axiom Venture
Partners and existing investors Bay
Partners and Castile Ventures Partners.
“The market opportunity for
high performance cluster computing
interconnect solutions is expanding
quickly as the industry increasingly
uses lower cost servers, blade servers
and storage systems to build out data
centers,” said William Dunbar,
Managing Director of Core Capital
Partners. “SilverStorm’s
technology leadership in InfiniBand
based solutions coupled with their
solid and growing relationships with
major end-users and Tier one distribution
partners are the drivers behind our
investment.”
SilverStorm’s solutions are
widely used in High Performance Business
Computing, Database Clustering and
Grid Utility Computing applications.
SilverStorm solutions power some of
the world’s largest computing
clusters in diverse fields including
Oil and Gas exploration, Automotive
and Aerospace design, Financial Services,
Bio Medical and University/Government
Research, including end-user customers
such as Sandia National Laboratories,
Riken Research Institute, Toyota,
Lockheed Martin, Chevron, Sun Microsystems,
Intel, AMD, Virginia Tech and Canon.
“This round of financing is
an endorsement of our technology leadership
and strategy,” said Russ Hawkins,
SilverStorm’s CEO. “The
new funding will be used to expand
our product development, sales and
marketing efforts as we continue to
broaden the reach and capabilities
of our award winning 9000 series products.”
About SilverStorm Technologies
SilverStorm Technologies is the leader
in high performance interconnect solutions
for clustered computing. SilverStorm
designs, manufactures and services
a family of networking hardware and
software products that dramatically
improve cluster performance and scalability.
For more information, visit www.silverstorm.com
or contact info@silverstorm.com.
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