Wednesday, August 21, 2013

Maginatics Raises $17 Million for Cloud Storage

Maginatics, a start-up based in Mountain View, California, raised $17 million in Series B funding for its cloud storage solutions.

The company’s flagship product, MagFS (Maginatics FileSystem), "is an elastic, distributed file system that allows organizations to leverage the agility and economics of object storage (‘the cloud’) without disrupting existing workflows for both traditional and mobile users."

MagFS provides a global namespace for the management of file services, along with accelerations tools.

The funding was led by Intel Capital with participation from WestSummit Capital, Comcast
Ventures and existing investors including Atlantic Bridge and VMware.

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