Heres some great news out of Silicon Valley. SandForce is going to receive $25 million in venture capital funding. I cant wait for better/cheaper SSDs.
By Frank Michael Russell
Posted: 09/14/2010 02:12:00 PM PDT
Chip developer SandForce has received $25 million in venture capital in a round led by Menlo Park-based Canaan Partners, the Saratoga company announced Tuesday.
The round also includes funding from previous investors DCM, Storm Ventures, Translink Capital, UMC Capital and Milpitas chip maker LSI.
"This new funding will help us bring our next-generation products to market, expand our customer and partner support infrastructure, and accelerate our core technology development that will extend our market leadership," CEO Michael Raam said in a news release.
SandForce makes processors that control the use of flash memory in data storage devices -- putting data on solid-state drives, or SSDs, rather than hard-disk drives. According to a company fact sheet, SandForce was founded in 2006 and has 90 employees.
"SandForce has breakthrough SSD processor technology and has executed extremely well on its business plan," Eric Young, a general partner at Canaan Partners who was named to the startup's board of directors, said in the news release.
According to TechCrunch, SandForce received $21 million in previous funding.