Israel’s Reduxio Systems, which declares itself to be the next-generation hyper-efficient hybrid storage innovator, has closed a $15 million Series B round of funding.
The company said that the new funding will allow it to accelerate product development and will support its go-to-market plan. In conjunction with this investment, Seagate will obtain a seat on the Reduxio Board of Directors.
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Reduxio asserts that its new storage operating system implements active tiering across multiple tiers, NoDup in-line deduplication and compression, and BackDating for infinite data recovery. Its multi-tier infinite storage systems are specifically designed for today’s storage environments focusing on cloud, virtualization and structured data sets.
The company boasts that its operating system and next generation smart placement algorithms will redefine price/performance and functionality for enterprise storage buyers.
The round was led by Seagate Technology plc, a leader in storage solutions, together with existing investors Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital. This comes just one year after last year’s round of $12 million.
“We are very excited to close this funding round, ” said Mark Weiner, Chief Executive Officer, Reduxio Systems. “We are thrilled to have Seagate as an investor. Seagate has the know-how and the passion that has allowed them to continue to be the leader in the storage industry. Seagate’s investment validates our innovative architecture and our execution to date, and will help us to bring our products to customers earlier.”
“This investment underscores our continued commitment to further strengthen our position as a storage solutions leader from components to systems to services, ” said Rocky Pimentel, President of Global Markets and Customers at Seagate.
“Reduxio has built an architecture that can truly leverage the capabilities of hard disk drives, solid state storage, and future non-volatile technologies together in a single system. We believe that systems that successfully integrate multiple media types can deliver compelling price/performance and reliability benefits and will have a unique position in the market.”
“Reduxio was created with the vision that the rapidly evolving enterprise storage space needs a new disruptive architecture.” said Kobi Rozengarten, Chairman of Reduxio and General Partner at JVP. “In just two years, Reduxio’s team has proven its ability to provide the most advanced solutions to this rapidly growing space.”