Monday, September 15, 2008

Sigma sets up $10M round for Calif. cloud firm Zetta

Sigma Partners, a venture capital firm with offices in California and Boston, has participated in the $10.68 million first round funding of California-based cloud storage technology developer Zetta Inc. The Series A round also included Menlo Park, Calif.-based Foundation Capital, officials report.

Sunnyvale-based Zetta plans to use the funding to expand product development, marketing and operations, according to the company. Zetta, which does not yet have an operating website, was founded by industry veterans Lou Montulli, Jeff Whitehead, Jason Harrison and Jeff Treuhaft. The company’s goal is to advance “the state of the art for enterprise storage by delivering feature rich solutions for IT administrators without the costs, complexities and risks associated with traditional storage software and hardware solutions,” according to officials.

Sigma Partner’s local storage plays include Blackwave Inc. of Acton, ExaGrid Systems Inc. of Westborough, and  Incipient Inc. of Waltham. The firm has also been part of some recent high-profile local exits, including the $1.4 billion acquisition of Nashua-based portfolio company EqualLogic Inc. by Dell Inc. in January of this year, and the $250 million acquisition of Watertown’s m-Qube Inc. by California’s VeriSign Inc. in 2006.