Reduxio Systems, a provider of “high performance” enterprise storage solutions with unique data management capabilities enabled by its Reduxio TimeOS™ solution, a new storage operating system, has secured $22.5 million of Series C funding in a round anticipated to total up to $32 million.
The new funding round was led by London-based C5 Capital, a specialist investment manager focused on cyber security, data analytics and cloud computing. This round more than doubles the amount of capital invested in the company, and will fund continued innovation and global marketing of the company’s software-defined storage platform.
All previous investors, including Jerusalem Venture Partners, Carmel Ventures, Intel Capital and Seagate Technology also participated in this fundraising round for Reduxio, signaling their confidence and continued support for the company’s strategy to build the software platform both in the cloud and on premise.
C5’s investment will complement the existing investor group with a specialist focus on cloud infrastructure and cyber security, as well as a “strong” network that would enhance Reduxio’s growing ecosystem of channel sales and technology partners.
“The future of data storage and protection lies in delivering high performance, easy-to-use solutions designed for the rapidly coming era of hybrid IT – this is precisely why we started the company,” said Mark Weiner, co-founder and CEO of Reduxio. “Reduxio’s next generation architecture was purpose-built to address this challenge. Our vision and focus align perfectly with C5’s vision, and we welcome their unique expertise to the Reduxio team. This latest round of funding will allow us to continue our exponential growth to meet the needs of our rapidly growing customer base.”
Reduxio TimeOS puts data at the middle of the company’s architecture and allows complete virtualization of all types of storage, delivering highly effective storage for the most demanding enterprise applications.
“Now and again, investors encounter a top team in a new company with the potential to seriously disrupt a market. Reduxio is clearly one of those companies,” said Marcos Battisti, Partner at C5 Capital and new board member of Reduxio. “Reduxio’s technology is reshaping the storage space as we know it. Its software-defined storage technology is built on top of truly unique and ground-breaking IP that provides tangible benefits to on premise, hybrid, and cloud-based customers. Its solution is also being widely seen as one of the key tools to fight the growing threat of ransomware attacks. My partners and I are very proud to be invested in a company as unique as Reduxio.”