Storage, networking, Virtualization

Incipient Gathers $15.6 Million

Wade Roush 2/21/08

Waltham, MA-based Incipient, which makes software for managing and moving data on enterprise storage area networks, said today that it has completed a Series E financing round totaling $15.6 million. Existing investors Globespan Capital Partners, GrandBanks Capital, HLM Venture Partners, Greylock, QuestMark Partners, Sigma Partners, and Wasatch Advisors participated in the round, which also included an unnamed new investor. The company, which was founded in 2001, has over 65 employees, and works mainly with large financial services companies looking to virtualize their data center operations, has raised a total of $79 million in venture funding, according to peHUB.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.