Before a startup has a product ready to sell, it usually keeps its mouth shut about what it's working on. In the tech industry, that's called "stealth mode."
Most startups either bootstrap or live on a small seed investment while in stealth mode. They use that time to build the product, get some beta testers, and make a business case. They take all of that to the venture capitalists to raise the funds they need to operate.
But some startups are able to raise huge amounts of cash while still underground.
The folks at CB Insights, which collects data on venture funding startups, recently sifted through its massive database to find the most well-funded startups still in stealth mode.ProtectWise: $17 million
Company name: ProtectWise
Total raised to date: $17 million from Crosslink Capital and Trinity Ventures.
What we know about it: ProtectWise is a Denver-based startup doing a cloud-computing product for the computer security market.
It's led by Scott Chasin, founder of MX Logic, which he sold to McAfee for $140 million in 2009.
NextBit Systems: $18 million
Company name: NextBit Systems
Total raised to date: $18 million from Accel Partners and Google Ventures.
What we know about it: NextBit Systems is doing something in mobile, possible a mobile storage product. Cofounded by Tom Moss and Mike Chan. Moss ran the Android Business Development team at Google from 2007 until 2010) and is a board member at Cyanogen, an open version of Android.
Chan was an Android engineer at Google, left for Android security startup 3LM, acquired by Motorola Mobility, and then Google bought Motorola.
CNEX Labs: $20 million
Company name: CNEX Labs
Total raised to date: $20 million from IDEA Fund Partners and Sierra Ventures.
What we know about it: CNEX Labs is a San Jose startup working on big data storage. Cofounded by Yiren Huang, a chip engineer formerly of Huawei/Brocade/Cisco and Alan Armstrong, formerly of semi-conductor company Marvell.
Jut: $20 million
Company name: Jut
Total raised to date: $20 million from Accel Partners and Lightspeed Venture Partners.
What we know about it: Jut is working on a "data analytics" product that makes it easier for people to get insights about their business by asking questions.
Founded by Steven McCanne who launched his career as a scientist at Lawrence Berkeley National Laboratory working in early internet tech. He later founded FastForward Networks (sold for $1.3 billion in 2000), and Riverbed Technology.
See the rest of the story at Business Insider
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