Pliant Technology, developer of Enterprise Flash Drives, said Monday that it has received $15 million in Series C funding.
Pliant's Series C funding round includes the addition of venture capital firm Menlo Ventures, and managing director Mark Siegel has joined Pliant's board of directors.
Other venture capital firms investing in the Series C round, as well as in previous rounds, include Lightspeed Venture Partners, Arcturus Capital, and Divergent Ventures.
Pliant said it plans to use the latest round of funding as working capital to support the volume production ramp-up of its first Enterprise Flash Drives solutions. The company will also leverage the funding to begin expanding its Enterprise Flash Drives product portfolio. Pliant began delivery of initial Enterprise Flash Drives units to major OEMs in late 2008.
Pliant's Enterprise Flash Drives are designed to deliver dramatically higher levels of input/output performance while meeting the growing need for increased energy efficiency and reliability in enterprise computing environments.
by RTT Staff Writer
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