Sanrad
Sanrad Intelligence Storage Networks Ltd
Company Overview
Snapshot
Founded in May 2000 by Eyal Felstaine, Sanrad operated with 11–50 employees. The company raised $21 million across 3 funding rounds from 3 investors. Sanrad was acquired by OCZ Technologies in January 2012.
Business overview
Sanrad Intelligence Storage Networks Ltd specializes in Internet Small Computer Systems Interface (iSCSI) storage virtualization. The company developed IP-based Storage Area Network (SAN) technology, offering solutions designed to enhance the performance of enterprise network applications. Sanrad focused on high-availability disaster recovery, storage virtualization, management, and disaster recovery for enterprise clients.
Strategic signal
In January 2012, OCZ Technology Group Inc. acquired Sanrad for $15 million in shares. This acquisition highlights the strategic value of Sanrad's IP-based SAN technology, which OCZ intended to integrate into its memory products to address application access bottlenecks in storage systems. The deal signaled a positive exit for Sanrad's investors and a strategic move for OCZ to enhance its product offerings and establish a new design center in Israel with Sanrad's staff.
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- What was a significant exit event for Sanrad?
- In January 2012, Sanrad was acquired by OCZ Technologies. The acquisition was valued at $15 million in shares.
- Which investors participated in Sanrad's funding rounds?
- Sanrad secured funding from investors including Sequoia Capital and Foundation Capital.
- What was the total capital raised by Sanrad?
- Sanrad raised a total of $21 million across its funding rounds.
- What was the strategic rationale behind OCZ Technology Group's acquisition of Sanrad?
- OCZ Technology Group acquired Sanrad in January 2012 to leverage Sanrad's IP-based storage area network (SAN) technology. OCZ planned to integrate this technology into its memory products to improve application access bottlenecks in storage systems and establish a design center in Israel with Sanrad's development team.
- When did Sanrad complete a significant financing round?
- In July 2006, Sanrad closed a financing round, raising $10 million. This round was led by Foundation Capital and Rad Group.