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CentrePath Gets Venture Funding

Carrier Hotels Staff Posted Mar 3, 2004

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Massachusetts data center provider CentrePath said today that it has received a $4 million investment from a group of venture capital investors, including EMC co-founder Roger Marino and VC firms Greylock and Pilot House.

CentrePath is a privately-held company that provides business continuity consulting to enterprise firms. Founded in 2000, it is based in Waltham, Mass. and has a European office in London. CentrePath's offerings cover the assessment, design, test and implementation of a data transport network.

The funding provides another sign of the investment community's growing confidence in the data center sector and its prospects for future growth.

"CentrePath is well positioned in a fast growing market," said Bill Helman, General Partner of Greylock. "The data center networking market continues to grow as businesses are forced to conform to regulations mandating data availability and recovery.

"CentrePath has demonstrated their ability to execute and has an impressive customer list to prove it," Helman added. "They have used their first mover advantage to develop key, proprietary technologies which will allow them to increase their lead in the market."

"This round of financing will augment our rapidly growing revenue stream and allow us to expand our customer base – which is over 75 to date," said CentrePath CEO Jim Sullivan.

Greylock is a private venture capital firm, with committed capital of over $2.2 billion under management, which has invested in more than 250 companies. Marino co-founded data storage company EMC Corporation, and has invested in tech ventures since his retirement in 1992. Pilot House Ventures invests in the broadband communications industry, including voice, video and data.