Coraid Raises $25M
Redwood City, CA-based Coraid, which makes scalable storage devices for businesses, said today that it has closed a $25 million round of Series C venture funding. Menlo Ventures was in the lead, and all of the company’s existing investors, including Allegis Capital and Azure Capital Partners, also participated. Menlo Ventures managing director John Jarve has joined Coraid’s board. The company previously raised $10 million in late 2009, and was formerly located in San Clemente in California’s Orange County.