Fenwick & West represented Nexenta Systems, Inc., a global leader in Open Source-driven Software-Defined Storage (OpenSDS), in its $20 million financing. SoftBank Corp. led the round with participation from other strategic and financial investors, including Javelin Venture Partners, SV Booth Investments, SAB Capital, Lake Trail Capital, TRB Equity and Tarkan Maner, the CEO at Nexenta.
The company will use the funds to accelerate global market growth and solidify its innovation and market leadership. The financing includes a strategic agreement between Nexenta and Softbank that involves commercial dimensions around SoftBank’s distribution and usage of Nexenta portfolio, and collaborative integrated OpenSDS systems development with SoftBank and its preferred hardware partners. More information about Nexenta’s $20 million financing can be obtained from the company press release.