Acopia Networks – Profile
HQ: Lowell, MA
Founded: January 2002
Management: Founders, Chris Lynch and Cheng Wu, previously founded Arrowpoint, which sold to Cisco at the bubble top for $6B.
Investors: Acopia has raised a total of $65M. The first $10M came from angels/founders. Latest round was in November 2004 from Goldman Sachs, Charles River Ventures, Accel Partners, STAR Ventures and Vesbridge Partners.
Business Model: Only storage freaks can truly grok, but Acopia Adaptive Resource Switches are appliances that sit between NAS filers and clients and consolidate files into one pool for easier management. The problem Acopia deals with is that as much as 80% of data on enterprise networks is unstructured files, images, and PDFs. Acopia appliances name this data so that IT admins can manage it.
Competitors: NuView, Rainfinity, NeoPath Networks.
Dirt: Hot space, hot team, plenty of cash. Plus big names in storage are behind in the game and will have to buy or partner. Negatives are that Acopia got off to a slow start with its product, releasing it about a year behind its original schedule. Rainfinity and NuView shipped similar offerings first. And Acopia has fewer announced customers.