Spinnaker Networks, Inc.announced that it has successfully raised $31 million in its Series B funding round. This second funding follows an initial funding round of $20.4 million in 2000. The second round of investment was led by Mellon Ventures, Inc., with GIC Special Investments (GIC SI) also joining as a new investor. Series A investors Menlo Ventures and Norwest Venture Partners, also participated in the funding round.
Spinnaker’s Transparent Scalable Architecture offers a single point of online management to lower the total cost of ownership. Spinnaker Networks is developing storage servers that will keep pace with the ongoing demand for greater enterprise storage capacity and performance.
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