NeoPath Networks, a provider of file storage virtualization solutions, announced that is has closed an $11 million round of funding that included participation by Cisco Systems, Inc., which helps underline the networking gear maker's continued interest in virtualization technology. Cisco joined previous investors such as August Capital, DCM-Doll Capital Management and Gabriel Venture Partners in the latest round of funding, bringing the total investment in the company up to almost $30 million.

NeoPath plans on using the funds to continue its aggressive customer and partner growth, and to further enhance its products to meet the demands of its rapidly growing customer base. To help spearhead these sales and marketing activities, NeoPath has appointed former Network Appliance executive Ali Zadeh to chief operating office (COO) of the company.

"Organizations are increasingly recognizing the benefits of deploying file storage virtualization solutions such as NeoPath's File Director," said Tony Asaro, senior analyst, Enterprise Strategy group. "It offers a way for system administrators to simplify the complexities of managing shared resources and file systems without disrupting the user/workflow experience. File storage virtualization has the potential to change the dynamics of how companies implement networked storage."

NeoPath, founded in 2002, makes a device that consolidates file systems on servers and network attached storage spread across an enterprise. It allows administrators to configure and allocate storage space across the network through a centralized interface. Customers use NeoPath's family of products to perform painless data migrations, implement intelligent storage tiering, and establish a unified namespace for non-disruptive storage aggregation.

Posted by David Marshall on May 25, 2006 07:04 PM