MPSTOR Announces 1.5M funding round with Kernel Capital Partners

Kevin Haverty; William Oppermann, CEO of MPSTOR; Frank Ryan, CEO of Enterprise Ireland; Orla Rimmington,Operations Manager of Kernel Capital.

Cork, Ireland- October 8, 2009 - MPSTOR a developer of both hardware and software storage management products announces a 1.5M Euro investment led by Kernel Capital partners and Asian investment partners Winning Tack. Since 2006 MPSTOR has developed a range of data storage products and has succesfully brought these products to the US market with sales of over eight hundered licences of its MPStackwareE storage software. The current funding will allow MPSTOR to develop its international sales and marketing programs and continue its leading edge roadmap in the area of Unified Storage and High Capacity Storage.

Commenting on the investment “with this investment we will take our MPStackware storage software to additional US and EMEA channels and build upon the 800 software licences of MPStackware sold to date, in addition to our Cork based research and development team we will shortly open our sales and marketing devision in USA”  said William Oppermann, MPSTOR founder.

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About Kernel Capital
Kernel Capital is one of Ireland’s largest and most active venture capital funds. Established in 2002 the firm has a portfolio of investee companies across, technology, life science and general industry. With investment funds of €165m under management through Kernel Capital and its associate company Seroba Kernel. The firm targets investment opportunities in the range of €250k to €5m+. All sectors and all stages of a company’s development are considered. The Kernel Team has been instrumental in numerous corporate finance and IP licensing transactions totalling several hundred million Euros and are named inventors on over 50 patents. The Bank of Ireland Kernel Capital Private Equity Fund II has received funds under the Enterprise Ireland Seed and Venture Capital Scheme.

About MPSTOR
Privately held MPSTOR is a leading designer and supplier of innovative leading edge data storage products. MPSTOR with its research and development team of ten Engineers located in Cork designs storage management software for the 16.5$ billion global disk array market. MPSTACKWARE runs on MPSTOR proprietary storage controllers as well as standard Intel servers. Supporting Intel platforms allows MPSTACKWARE to scale from entry level to enterprise performance at very cost effective prices. MPSTOR has a unique business model supplying not only the storage managment software but also supplies a comprehensive range of companion disk array products. MPSTOR’s products and services are targeted at enterprise data centers, vertical markets such as video surveillance, healthcare and data storage integrators. MPSTOR has a partnering and OEM/Integrator business model.

The company has three current investors including the founders and staff with Iinvestor partners Bank of Ireland Kernel Capital,  Enterprise Ireland and Asian technology investor Winning Tack.

For further information please contact:  

William Oppermann
            MPSTOR Ltd.
            wo@mpstor.com
            www.mpstor.com
            +353 21 4928930