Something else that's helping the company launch its second product is the $4 million to $5 million inside round of funding it landed in March this year from Jerusalem Venture Partners, one of its existing investors. The company, founded in January 2000, had previously received a total of $25 million from Jerusalem, which also participated in the March round, and Battery Ventures. SANgate says it has adequate funding to bring the S2100 to market.
One thing SANgate still doesnt have, however, is a permanent CEO. After losing its third CEO last fall, the startup is still under the leadership of its CFO and interim CEO George McHorney (see SANgate Loses Third CEO). The company says it's currently in the process of interviewing several "experienced" executives. [Ed. note: We respectfully suggest hiring someone who knows how to close a deal.]
Eugénie Larson, Reporter, Byte and Switch
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