Avere Systems Raises an Additional $20M to Accelerate Growth of Its Hybrid Cloud Storage Solutions

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Avere Systems, a provider of enterprise storage for hybrid cloud environments, has raised an additional $20 million in venture financing, bringing the total amount invested in the company to $72 million. The funding will be used to accelerate sales, marketing and continued development of the company’s hybrid cloud storage solutions.

cloud-storageAvere’s novel approach bucks the costly trend of ramping up physical storage capacity and performance through purchasing bigger storage servers loaded with an exorbitant amount of disks or flash, and then connecting them to higher-bandwidth pipes.

Instead, Avere has invented 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.

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.

NAS-quality performance

“The reality for 99% of enterprises is they will operate increasingly in a hybrid IT storage environment for many years to come,” said Ron Bianchini, President and CEO of Avere Systems. “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. 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.”

Avere Systems offers a lineup of products that are optimized according to workload requirements ranging from small enterprise to the most intense storage scenarios in the world.

“We are impressed with the Avere management team’s continued ability to execute on its plan to make hybrid cloud storage a reality for enterprises,” said John Jarve, Managing Partner at Menlo Ventures. “Now that the company has proven to deliver NAS-quality performance in a hybrid cloud environment, we expect mainstream enterprises to adopt this new technology at a rapid rate over the next 18-24 months.”