BlueArc, a network storage company led by former Compaq executive Enrico Pesatori, received a $72 million third round of funding. The Mountain View, Calif.-based company, which received an increase in its valuation to $312 million, attracted Weston Presidio as its lead investor. Other investors include Dell Ventures, Euroqube, New York Common Retirement Co-Investment Fund, JPMorgan Partners, Fort Washington Capital and previous investors Celtic House International, Patricof & Co. Ventures, and Apax Partners.
BlueArc, which has raised over $100 million, has developed a network storage system that can run at gigabit speeds, rather than the industry's current practice of megabit speeds, spokesman Jim Schaff said.
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