ACADEMIA

SilverStorm Technologies today announced that it has closed on an additional $13 Million of funding to support its growth initiatives. The round was led by new investor Core Capital Partners, a $370M technology focused venture capital firm located in Washington DC. Core Capital was joined by new investor Axiom Venture Partners and existing investors Bay Partners and Castile Ventures Partners. "The market opportunity for high performance cluster computing interconnect solutions is expanding quickly as the industry increasingly uses lower cost servers, blade servers and storage systems to build out data centers," said William Dunbar, Managing Director of Core Capital Partners. "SilverStorm's technology leadership in InfiniBand based solutions coupled with their solid and growing relationships with major end-users and Tier one distribution partners are the drivers behind our investment." SilverStorm's solutions are widely used in High Performance Business Computing, Database Clustering and Grid Utility Computing applications. SilverStorm solutions power some of the world's largest computing clusters in diverse fields including Oil and Gas exploration, Automotive and Aerospace design, Financial Services, Bio Medical and University/Government Research, including end-user customers such as Sandia National Laboratories, Riken Research Institute, Toyota, Lockheed Martin, Chevron, Sun Microsystems, Intel, AMD, Virginia Tech and Canon. "This round of financing is an endorsement of our technology leadership and strategy," said Russ Hawkins, SilverStorm's CEO. "The new funding will be used to expand our product development, sales and marketing efforts as we continue to broaden the reach and capabilities of our award winning 9000 series products."