NeoScale Systems, a start-up based in Milpitas, California, secured $12 million in second round equity funding for its enterprise storage security solutions. NeoScale offers a CryptoStor wire-speed, policy-based storage security appliance that delivers network storage and media privacy. The new funding was led by Sevin Rosen Funds and included Bay Partners and Lightspeed Venture Partners. The company has raised $25.5 million to date.
http://www.neoscale.com
- Separately, NeoScale announced the appointment of John McGraw as president, CEO and chairman of the board. McGraw was formerly CEO and remains on the board at Nishan Systems. Previously, he was president and CEO of LightLogic Corporation — an optical component manufacturer which was acquired by Intel in 2001. Prior to that, he was a senior vice president and general manager of the Electronics Group of Raychem Corporation