Monday, November 14, 2011

NexGen Storage Raises $10 Million

NexGen Storage, a start-up based on Louisville, Colorado, raised $10 million in new funding for its solid-state, shared storage solutions.

NexGen Storage said it solves the two key issues that have limited the adoption of virtualization -- the long-standing drawback of performance uncertainty associated with shared storage and the high operational cost of disk sprawl. The design offers up to 76 times higher storage density than a typical disk drive deployment resulting in up to 90 percent storage operating expense savings.

New investor Next World Capital led the financing and joined existing investors, Grotech Ventures and Access Venture Partners. NexGen Storage emerged from stealth on November 8, 2011, and simultaneously announced the general availability of its flagship product, the NexGen n5 Storage System.