“Ecrix Corporation today announced completion of its third
round of financing with $5 million from August Capital, one of the
leading information technology venture capital firms. This $5
million combined with the $25 million Ecrix announced in July
brings the third round financing total to $30 million.”
“We are pleased to attract a high-caliber venture firm with a
proven track record,” said Kelly Beavers, Ecrix’s president and
COO. “This round of financing will enable us to further strengthen
our marketing efforts and manufacturing capacity as we continue our
worldwide shipments of VXA-1 tape drives and media.”
“Ecrix Corporation’s VXA technology is a significant advancement
in the tape storage industry,” said Dave Marquardt, August Capital
partner. “As a result, we believe that Ecrix will be able to define
new storage industry standards, erect sustainable competitive
barriers, and build a long-term market leadership position.”