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Topspin scores $30 million

Topspin Communications, which is developing software to help servers within a network share CPU (central processing unit), I/O and data storage resources, announced Wednesday that it has raised $30 million in second-round funding. Advent International led the funding round, joined by previous investors Accel Partners and Redpoint Ventures.

Topspin, which has raised $47.5 million to date, is doing early field testing of its software with server application companies, Topspin Chief Executive Krish Ramakrishnan said. Krishnan declined to say which companies are testing the product, which does not yet have a name, but said Topspin plans to announce the software this fall. Topspin expects this round of funding to be the last it will need, Ramakrishnan said.