Stealth Startup Liqid Announces $5.7M Seed Round, Not Much Else
It’s not much of a secret that data storage and networking are two areas where Colorado has created some very successful startups, such as SolidFire and, back in the day, Lefthand Networks and StorageTek. So it wouldn’t be unusual to see a new startup make its debut by announcing a large seed round.
But for that startup to put out a press release while not giving out details? That is out of the ordinary, but it is what Liqid did Wednesday, announcing it has raised $5.7 million in seed financing—and very little else. Xconomy contacted the company for more details, but representatives said that was all they would be saying.
The most detail Liqid gives in its release is a claim that its product “is redefining how resources are used and managed within the data center.” The investors are Kingston Technology, Phison Electronics, ABR Capital Management, and additional funds gathered by DH Capital, according to a release from the company.
Liqid is located in Lafayette, CO, and was founded in 2013.
But there are some hints at what Liqid might be up to. First, Phison Electronics and Kingston Technology both make products used in data storage. That suggests they could be making a strategic investment in a startup in their domain.
The second hint is that both founders have past ties to data storage companies, according to their LinkedIn profiles. Liqid co-founder and CEO Jay Breakstone founded and was CEO of PureSilicon, a company that makes solid-state drives that use flash memory. His profile says he remains the company’s chair.
Bryan Schramm, who is listed on Liqid’s SEC filings as an executive and director, was a PureSilicon board adviser, according to his LinkedIn profile, although his background looks to be more in energy and finance. He co-founded Sundrop Fuels, a biofuels company based in Longmont, CO.