Avere Systems, a start-up based in Pittsburgh, PA, raised an additional $20 million in venture financing for its enterprise storage solutions for the hybrid cloud.
Avere has developed a flexible, software-defined storage tiering methodology that fosters intelligent use of multiple storage technologies (RAM, SSD, SAS and SATA) that can negate the weaknesses of one type of media or accelerate underutilized strengths in another. Its product portfolio is optimized according to workload requirements ranging from small enterprise to the most intense storage scenarios in the world.
“The reality for 99% of enterprises is they will operate increasingly in a hybrid IT storage environment for many years to come. This means that no single storage technology will win, and both on-premises and cloud storage will be required to achieve cost and performance goals,” said Ron Bianchini, president and CEO of Avere Systems. “With this Series D funding round, we continue to scale the company so that we can provide the best solutions to customers embarking on their hybrid cloud path.”
The Series D funding round was led by Western Digital Capital, with participation from previous investors Lightspeed Venture Partners, Menlo Ventures, Norwest Venture Partners and Tenaya Capital. This bring total funding for the company to $72 million.