Copan Raises $18.5M

LONGMONT, Colo. -- COPAN Systems, the industry leader in cost-effective storage solutions for the protection and management of persistent data, today announced that it has secured $18.5 million in new 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 companys product development, sales, marketing and channel efforts globally and build on its success in the enterprise data storage market.

"Today’s enterprise data centers are storing massive amounts of persistent data and the requirements of growth far exceed the storage budgets currently earmarked," said 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 1/10th the operating cost. The substantial ROI benefits include higher reliability, higher data integrity, reduced power and cooling requirements, and a significantly smaller data center footprint. COPAN’s existing investor base, in support of Mark Ward, CEO, and his team, represent the type of successful foundation that Westbury seeks to build upon."

Copan Systems Inc.