Compellent Technologies on Tuesday announced plans to go public, following in the fresh footsteps of a host of other storage network companies.
The Eden Prairie, Minn., company, which makes a storage-area network (SAN) array, made its announcement just a week after a similar announcement from Data Domain, a company involved in disk-based backup and deduplication. Those companies join CommVault, Double-Take, Isilon, Riverbed and Mellanox in the IPO rush among storage and other tech firms.
Compellent started up in March 2002 and shipped its first product in February 2004. So far, Compellent has taken in US$53 million in funding. Its midrange Storage Center array competes with more expensive arrays from EMC and IBM and with other storage gear from Xiotech, EqualLogic and 3Par.
The company says in its S-1 filing with the Securities Exchange Commission that it has 550 companies using its Storage Center product.
In 2006, Compellent sustained losses of US$6.8 million for an accumulated deficit of US$43.7 million.