Google has acquired Israeli cloud migration startup Velostrata. No financial details were disclosed but Israeli media estimated the price between $100 million to $200 million. The company has raised $31.5 million to date from investors including Norwest Venture Partners and 83 North.
Velostrata’s platform enables organizations to split their computing resources in real time and saving space. The system also enables the transfer of organizational applications between the cloud and local storage when necessary, according to organizational needs and regulatory constraints in a fast and secure manner.
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Founded in 2014 by serial entrepreneur Issy Ben-Shaul, CEO, and Chief Product Officer Ady Degany Velostrata has raised $31.5 million to date from investors including Norwest Venture Partners and 83 North.
Ben Shaul, has already had two exits in the field of enterprise storage and communications systems. He was vice president of technology and co-founder of Actona, a company that developed a system for sharing storage and file management resources from various sites and was sold to Cisco in 2004 for $100 million.
He then founded Wanova, a company that streamlined the way organizations manage their employees remotely using a virtualization solution. It was sold to VMware for $ 80 million in 2012.
The company headquartered in San Jose, California with R&D in Netanya, Israel.