Funding for TimeSightBy John Honovich, Published Mar 10, 2010, 07:00pm EST
A government filing reveals that VMS/storage optimization specialist TimeSight Systems has received additional funding. The SEC document records a $750,000 investment on January 21, 2010. TimeSight's previous announced funding was $4.1M raised in October 2008 [link no longer available].
In an e-mail message, TimeSight confirmed the recent funding, noting that it was an additional investment from their existing investor, New Venture Partners. TimeSight noted that they are beginning their Series B fund raising round. Finally, TimeSight noted that Q4 2010 was their best quarter ever, with 50% quarter over quarter growth. TimeSight did not disclose a longer trend or absolute revenue numbers, so it's not possible to judge how significant revenue is or consistent growth is (e.g., small companies revenue can vary dramatically from quarter to quarter based on a few large projects).
In September 2009, we criticized TimeSight's claims for misleading marketing claims of up to 90% storage savings. We posted our own guidelines for assessing savings in common scenarios against leading technology.
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