Mar, 2004 : CentrePath Secures $4 Million in Funding

📅 March 4, 2004 - CentrePath (centrepath.com), a provider of data center networking technology and services, announced on Thursday that it has secured $4 million in equity funding.

The Waltham, Massachusets-based company said it will use the financing to expand its business and "capitalize on its first mover advantage" in the data center networking market.
"This round of financing will augment our rapidly growing revenue stream and allow us to expand our customer base - which is over 75 to date. Despite a challenging economic period we have continued to stay focused and deliver valuable solutions to our customers," says Jim Sullivan, CEO of CentrePath. "We believe our people and technology can offer our customers the best solutions to meet their specific needs."
CentrePath said it has differentiated itself in the market through its expertise in the convergence of storage and networking environments and the applications driving solutions for disaster recovery and business continuity.
"CentrePath is well positioned in a fast growing market. The data center networking market continues to grow as businesses are forced to conform to regulations mandating data availability and recovery," says Bill Hellman, general partner of Greylock, the venture capital firm that led the equity funding. "CentrePath has demonstrated their ability to execute and has an impressive customer list to prove it. They have used their first mover advantage to develop key, proprietary technologies which will allow them to increase their lead in the market."