Nexenta Systems, a US-based developer of software-defined storage technology, has raised $24m in its series D round from a consortium including Japan-based conglomerate Sumitomo and chip maker UMC’s corporate venturing units. The company also named Mark Lockareff, former executive or angel investor in ParAccel, Agiliance, Softricity, Model N, Riverbed, Acopia, ProofPoint and Facebook, as chief executive, following Rick Martig joining as chief financial officer in October. Former CEO Evan Powell has taken on the new role of chief strategy officer, while Bridget Warwick is joining Nexenta as chief marketing officer from a similar post at BlueArc. Alongside Sumitomo’s Presidio Ventures and UMC Capital in the D round were venture capital firms Four Rivers Group, which led, Menlo Ventures, TransLink Capital, Javelin Ventures, Sierra Ventures, Razor’s Edge Ventures and West Summit Capital. In January 2011, Nexenta raised $21m in its C round.

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?