Tiny IP-based replication software outfit Radiant Data Corp. claims it's keeping interested venture capitalists -- and potential buyers -- at arm's length for now, because the company believes it can build traction on its own, and its private investors are unwilling to give away a substantial stake in the venture. But the VCs that Radiant Data says has contacted it tell a slightly different story.
The startup was founded in May 2000 as Independent Storage by Mark Bradley, who is now chief technology strategist for Computer Associates International Inc. (CA)'s (NYSE: CA) BrightStor storage software group.
Last year, Radiant Data merged with PeakData LLC, a reseller of Storage Technology Corp. (StorageTek) (NYSE: STK) products that targets mainframe environments. Both are based in Niwot, Colo., between Longmont and Boulder.
Saeed Karim, Radiant Data's president and CEO -- and also president and CEO of PeakData -- says Radiant will be able to sustain itself from the internal cash flow from PeakData, which has a quarterly run rate of around $2 million.
"I'm not spending money like a drunken sailor, so I'm not interested in VC money right now," he says. "Boulder Ventures and Sequel Partners are wanting to talk to me, and I say, 'Give me another six months.' "
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