Wednesday, December 14, 2005

StoneFly Gets Funding

San Diego-based StoneFly Networks, a provider of iSCSI storage equipment, has received a strategic investment from Dynamic Network Factory, a San Francisco Bay area company. According to a spokesman at the company, the firm will use the new money to plan operations and for expansion of its product lines. The company also confirmed that it has re-incorporated the firm as StoneFly, Inc., and that it will expand its products and services beyond the iSCSI market. In addition, the spokesperson said that StoneFly will continue its operations in Engineering, Systems Integration, and Tech Support in the San Diego area. StoneFly has received more than $34M in venture capital, and according to storage industry insiders had been struggling to find additional funding. Dynamic Network Factory is a provider of storage products and services.

---