WhipTail Cracks On: VCs Pump It Full of Flash CashThe Register Jul 11, 2011 Back to press
Two venture capital firms have pumped A-round initial funding cash into flash array start-up Whiptail What's got them so fired up?
Whiptail's XLR8r appliance is an all-flash memory array that can store things like VDI images and pump them out to booting PCs faster than a disk drive array.
Whiptail CEO Dan Crain said: "We're growing at high triple digits. This quarter we've substantially passed our projections and customer numbers are rapidly approaching 100 ... Revenues since our first customer ship are way up in the seven digits and we've shipped millions of dollars of kit."
It appears that sales results since May 2010 have been so good that the VCs – SMC and RRE Ventures – have opened their wallets and given an unrevealed amount of cash to Whiptail to:
Accelerate the expansion of the company's sales and marketing efforts as well as support additional product development. Sales efforts are being ramped up in the US and Europe through the hiring of sales teams, the development of key strategic partnerships, enhancement of the company's reseller channels and provisioning of key marketing support to that channel. For the remainder of the year, research and development projects will focus on several revolutionary product enhancements.
The VCs see a hot product that needs its selling channels and geography boosted and its technology made even hotter so they can make the big bucks down the road.