Coraid, a company that has sold storage hardware for companies’ data centers, has officially disbanded, following reports of its demise in the past few months, according to a post on LinkedIn today from founder and chief scientist Brantley Coile.
“Sadly there is now no more Coraid,” Coile wrote. “Its assets were actioned off last week. Last night the board resigned. Thanks to all the people who worked very hard on the Coraid vision of simple, fast and affordable network storage. We now go on to new and better things. Coraid is dead. Long live South Suite.”
South Suite Software is the stealthy company that Coile is working on now. He established it last year, according to his LinkedIn profile.
Back in January, the Register reported on Coraid’s challenges, claiming that the company had ended its U.S. operations and had not been successful in raising new funding, among other things. A CRN report earlier this month said the company was closing up for good and was filing for bankruptcy, but the company did not come out and say that publicly. Now there’s official confirmation.
While Coraid has gone under, other storage companies, including Nutanix and Pure Storage, have been soaring to new heights. Clearly the market isn’t universally growing like crazy.
Coraid started in 2000 and was based in Redwood City, California. The company racked up more than 1,000 customers before taking on venture capital. Customers included the U.S. Department of Defense and the National Institutes of Health.
To date it raised more than $100 million. In January 2014 Coraid announced a $29 million round. In 2010, it announced a $10 million round.
Investors included Allegis Capital, Azure Capital Partners, Crosslink Capital, Menlo Ventures, and TriplePoint Capital.
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