The Waltham company’s investors included GrandBanks Capital in Newton, Greylock in Waltham, and Globespan Capital Partners, HLM Venture Partners and Sigma Partners in Boston.
The Series C cash will support Incipient’s product development as well as its manufacturing and distribution partnerships with network-equipment manufacturers, the company said.
Incipient’s storage software helps automate and manage data networks for large, enterprise companies.
“(Our) strategy is to partner with strong management teams having market vision, differentiated technology and with the potential to become industry leaders in important new market segments,” said Bill Helman of Greylock. “We believe Incipient fits our profile perfectly.”
The round marks the second time that Incipient was able to raise at least $20 million. Its Series B round totaled $25 million and closed in September 2003.
