Cyan Gets Some Green
Cyan, incorporated in November 2006, received $8.75 million in a Series A funding round led by venture capital firms Azure Capital Partners (appropriately enough) and Norwest Venture Partners , according to Thomson Financial and SEC filings.
Hatfield declined to comment on the funding, saying that Cyan "hasn't made any funding announcements and doesn't plan to at this time." Azure and Norwest didn't return phone calls requesting comment.
Cyan's Hatfield still won't say what his company is building. He says the startup is "just trying to get our pieces together and we don't really have any comment on what we're doing right now."
Azure and Norwest, it's worth noting, have some Hatfield history. Norwest was an investor in Cerent, which Cisco acquired for nearly $7 billion in stock back in 1999.
Azure backed Calix Networks, where Hatfield still has a board seat. Calix has yet to be acquired or go public, but the countdown to a cash-out is always on. (See Calix IPO Talk Resurfaces.)
— Ryan Lawler, Reporter, Light Reading