Confluence nets $28 million second round

Confluence Networks announced Wednesday that it has raised $28.3 million in its second round, bringing the company's total funding to $45 million. Venture Strategy Partners led the round, which included participation from Redpoint Ventures and New Enterprise Associates. New investors Dali Hook Partners, Comcast Interactive Capital and Seagate Technology Investment Holdings contributed to the round. The Milpitas, Calif.-based company will use the financing to complete customer trials and to fund product development and the expansion of its sales efforts. Confluence was founded in 2000 and makes hardware and software that is designed to allocate capacity in a computer data storage network. The company plans to launch its initial product toward the end of this year.

May 30, 2002 11:49 a.m. PT

Confluence Networks announced Wednesday that it has raised $28.3 million in its second round, bringing the company's total funding to $45 million.

Venture Strategy Partners led the round, which included participation from Redpoint Ventures and New Enterprise Associates. New investors Dali Hook Partners, Comcast Interactive Capital and Seagate Technology Investment Holdings contributed to the round. The Milpitas, Calif.-based company will use the financing to complete customer trials and to fund product development and the expansion of its sales efforts.

Confluence was founded in 2000 and makes hardware and software that is designed to allocate capacity in a computer data storage network. The company plans to launch its initial product toward the end of this year.