Report: Isilon Co-Founder Sujal Patel Leaving EMC
Sujal Patel, co-founder of Isilon Systems, one of the Seattle area’s biggest recent VC success stories, is leaving data-storage giant EMC, which acquired Isilon for $2.25 billion in late 2010.
The move, first reported by John Cook at GeekWire, raises the welcome prospect of a seasoned and successful Seattle tech entrepreneur again on the prowl. But Patel, who launched Isilon in 2001 and later piloted it through a rough patch following its 2006 IPO, says his immediate focus is on his growing family.
The acquisition appears to have been a good one for EMC, which gained Isilon’s network-attached storage technology. Hopkinton, MA-based EMC noted demand for the technology as a highlight of its record third quarter earnings last week.
Isilon was backed by Seattle’s Madrona Venture Group, which realized a return of 15-20 times its $15 million investment in the company through the EMC acquisition. That big return certainly helped Madrona sell itself on the fundraising trail—the VC firm recently closed a $300 million fifth fund.
We’re reaching out to Patel and Madrona for updates and reaction. Cook reports that Bill Richter, Isilon’s CFO before the acquisition, will fill Patel’s shoes.