Round led by Weston Presidio and previous BlueArc investors Celtic House International, Patricof & Co. Ventures, and Apax Partners & Co
May 7, 2001
MOUNTAIN VIEW, Calif. -- BlueArc Corporation, developer of the world's highest performance enterprise-class network storage systems, today announced the completion of a $72 million round of financing led by Weston Presidio and previous BlueArc investors Celtic House International, Patricof & Co. Ventures and Apax Partners & Co. Also joining this round of funding are Dell Ventures, EUROQUBE, New York Common Retirement Co-investment Fund advised by Pacific Corporate Group, JPMorgan Partners, and Fort Washington Capital.
The investment will be used to drive the growth of BlueArc in the extremely fast moving network storage market. Since the company's founding in 1998 BlueArc has secured over $100 million in funding. Coinciding with the completion of this round of funding, BlueArc announced today that James B. McElwee, general partner of Weston Presidio, has joined BlueArc's board of directors.
"The success of this round is yet another external validation of BlueArc's compelling value proposition," said Enrico Pesatori, president and chief executive officer of BlueArc. "This round of financing illustrates the potential of our revolutionary SiliconServer technology and shows our investors' confidence in our ability to deliver on that potential."
BlueArc Corp.
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