Sources within the industry have been letting out a little secret. According to media reports based on these sources, Cisco is possibly the “Unnamed Silicon Valley industry titan” to be involved in the $31 million round for WhipTail. WhipTail is a flash storage company and it’s undergoing a Series C round of funding. With this funding, it will be receiving investment from Ignition Partners, RRE Ventures and Spring Mountain Capital. The debt financing comes from Silicon Valley Bank.
The flash storage company has earlier received funding from SanDisk via SanDisk Ventures. While company sources have not given any statement, sources have told TechCrunch that the company behind the WhipTail $31 mn round “has one of the largest market capitalizations in the Silicon Valley”.
This is going to be an important deal for Cisco as well as SanDisk. SanDisk has already put in $75 million in a new fund for innovation in the storage space. The WhipTail deal is their first allocation of the fund.… Read the rest