Spinnaker catches $31 million

Spinnaker Networks said Monday that it has raised $31 million in its second round, led by Mellon Ventures along with funding from new investor GIC Special Investments. Menlo Ventures and Norwest Venture Partners, investors from Spinnaker's $20.4 million first round, also came on board for the recent round. Pittsburgh-based Spinnaker started in 1999 and makes servers for the computer data storage networks of large businesses.

May 20, 2002 11:23 a.m. PT

said Monday that it has raised $31 million in its second round, led by Mellon Ventures along with funding from new investor GIC Special Investments.

Menlo Ventures and Norwest Venture Partners, investors from Spinnaker's $20.4 million first round, also came on board for the recent round. Pittsburgh-based Spinnaker started in 1999 and makes servers for the computer data storage networks of large businesses.