SwiftStack has raised $6.1 million in a Series A round of funding.
Storage platform provider SwiftStack announced on Tuesday that it has raised $6.1 million in a Series A round of funding.
The move comes a week after IBM released new private cloud service based on OpenStack, and the eventual move of all of its cloud services and software to open cloud architecture.
The round, led by Mayfield Fund with additional participation from Storm Ventures and UMC Capital, brings SwiftStack’s total financing to date to $7.6 million. This includes $1.5 million in seed funding.
The company will use the investment to support growth of the sales team, expand operations and advance development of its software-defined storage solution.
“SwiftStack has been tested with impressive results in large-scale deployments with early customers,” said Ryan Floyd, founder and general partner at Storm Ventures. “For these customers, the SwiftStack solution has transformed how storage is provisioned, managed and accessed on industry-standard hardware. We look forward to the company’s continued growth and are excited to see the change they will bring to the enterprise storage market.”
SwiftStack is building a software-defined storage solution that is specifically designed for object storage.
The platform decouples the management from the underlying storage infrastructure, enabling customers to build pools of storage on commodity hardware, allowing them to achieve greater scale, more flexibility and higher durability.
SwiftStack’s storage system helps organizations with large amounts of data simplify operations to decrease operational costs.
“These reputable firms bring a wealth of storage experience to our team, and their investment allows us to fully concentrate on company growth and technology development,” said Joe Arnold, CEO at SwiftStack. “Current storage methods are too general and do not effectively provide our customers with the flexibility, scale and cost efficiency required to support their ever-growing data sets and workloads. Our software-defined storage platform addresses this by fundamentally changing how storage is provisioned, managed and scaled in data centers.”
Talk back: Are you currently offering your customers software-defined storage solution? Do you think this new funding will enable SwiftStack expand its operations and sales team? Let us know in a comment.
About Justin Lee
Justin Lee has been a staff analyst with theWHIR since 2004. He writes about a range of web hosting and IT-related issues facing the industry on the WHIR website, as well the print version of the WHIR magazine. Follow him on Twitter @Justin_theWHIR.
