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Four Rivers leads oversubscribed Nexenta Series D round

27 Feb 2013

IO big data storage - AltAssets Private Equity NewsVenture capital firm Four Rivers Group has led an oversubscribed $24m Series D round in digital storage company Nexenta Systems.

Existing investors also taking part in the round included Menlo Ventures, Javelin Ventures, Translink Capital, Sierra Ventures, Razor’s Edge Ventures and West Summit Capital.

They were joined by new strategic investors Presidio Ventures and UMC Capital.

Nexenta also announced it had hired Mark Lockareff as CEO , with former CEO Evan Powell taking the new role of chief strategy officer.

Interest in the company follows it doubling its revenue growth year-on-year in 2012, giving it triple-digit growth for the past three years.

Last week solid-state drive  storage technology specialist Skyera received a vote of confidence from Dell, whose corporate venture capital arm led a $51.6m funding round.

The California-based group’s strategic investors also supported the fundraising effort, which marked the second injection of institutional capital into the business.

Skyera said the fresh funds would allow it to speed up integration of the latest-generation flash technology and make its core product available to more customers.

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