Equallogic

About Equallogic

In 2001, Peter Hayden, Paul Koning, and Paula Long founded Equallogic in Nashua, New Hampshire. Their focus was on a burgeoning technology: iSCSI, which uses standard ethernet to move block-level data, a simpler and more cost-effective alternative to the dominant Fibre Channel storage networks of the time. The company developed a line of storage area network (SAN) arrays, the PS Series, built on a peer storage architecture that simplified management and allowed for easy scaling. Equallogic's approach to making enterprise-grade storage accessible and easy to manage resonated with the market, particularly for virtualized environments. Between 2001 and 2004, the company successfully raised $52 million from investors including Charles River Ventures, TD Capital Ventures, Focus Ventures, and Sigma Partners. The business grew, and the company was on the path toward an Initial Public Offering (IPO). However, in late 2007, a different opportunity emerged. Dell, looking to bolster its enterprise storage offerings, made a move. Instead of an IPO, Equallogic agreed to an all-cash acquisition by Dell for $1.4 billion. At the time, this was the highest price paid for a venture-backed company. The acquisition, which closed in January 2008, marked a significant pivot for Dell, providing it with a powerful iSCSI platform and laying the groundwork for a new channel-focused sales strategy.