Storage startup burns through $45 million in 6 months, shuts down Sunnyvale-based storage startup Agami called an all hands at 11 AM, Monday, August 4. "I thought we were getting bought out,'' one sales rep told the Mercury News . Instead, CEO David Stiles told his employees that the company was shutting down and that everyone had to clear out by 1 PM. "Basically we all felt betrayed,'' another employee told the Mercury News. They had reason to be surprised. Agami only closed its third round of funding in February , after raising $45 million from investors including Kleiner Perkins.Employees — now without health insurance or expenses repaid — got an email address for pay requests, but so far employees say correspondence has been all one-sided. Asked why the company so suddenly folded, founder Kumar Sreekanti said: "Agami's board has decided to shut the company down as the efforts to raise further capital didn't materialize in time." Dan Warmenhoven, CEO of NetApp, doesn't buy the excuse — "You don't raise $45 million and then get shut down. That doesn't make sense," — and neither do we. Sreekanti has worked as the CEO of a Kleiner Perkins-backed startup before, so our guess is Sreekanti is keeping quiet trying to be a "team player" for the boys on Sand Hill road in order to stay on their roster of cooperative executives ready to work on — and sometimes unceremoniously shut down — future ventures.