Copan plans to deliver two new products in the second quarter, including an application that archives inactive file data, and a "next generation platform" that will improve power and cooling and provide more cost savings, Ward says. Delivery of new products to the current installed base should be sufficient to take the company into profitability, he says.

Copan is a private company, but Ward says "if the IPO markets ever come back, the board will look at potentially taking the company public."

Networking companies, particularly seed-phase startups, in recent months. With the economy in turmoil, investors have been unable to gain liquidity either through IPOs or acquisitions, and thus have been forced to devote additional money to existing investments rather than fund brand new companies. Ward says he doesn't expect to need any more outside funding for Copan.