WekaIO (WEKA), an Israeli startup that offers a data platform provider for next-generation workloads, raised $135 million in a Series D funding round led by Generation Investment Management. This latest round brings the total investment in Weka to $275 million to date and gives the company an estimated valuation of $750 million, or three-quarters of a unicorn.
This is an amazing accomplishment for a company in Israel’s Startup Nation considering all of the firms that have been forced to downsize recently, including older established and publicly traded companies, not just startups, due to the worldwide financial crisis. And most of the startups that have still been bringing in new investments seem to all be centered on cyber security and so forth, as opposed to Weka which helps companies deal with organizational issues.
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Founded in 2013 by Israeli entrepreneurs Liran Zvibel, Maor Ben-Dayan, and Omri Palmon, Weka offers WekaFS, the modern file system that the company boasts empowers organizations to solve the “newest, biggest problems holding back innovation.” Optimized for NVMe and the hybrid cloud, Weka handles the most demanding storage challenges in the most data-intensive technical computing environments, delivering truly epic performance at any scale. Its modern architecture unlocks the full capabilities of today’s data center, allowing businesses to maximize the value of their high-powered IT investments. Weka helps industry leaders reach breakthrough innovations and solve previously unsolvable problems.
Just a few weeks ago, Weka was named a Visionary in the 2022 Gartner Magic Quadrant for Distributed File Systems and Object Storage for a second consecutive year. The company was evaluated for its WEKA Data Platform offering and recognized for its Ability to Execute and Completeness of Vision.
According to Gartner: The unstructured data storage market continues to evolve. New capabilities are being introduced to address the growing challenges of exponential data growth, rapid digitalization, cyber resilience, cloud integration, and the globalization of data. Storage infrastructure deployments, based on distributed file systems and object storage, are growing faster than ever in both volume and deployment size as the consolidated platform for unstructured data services in global data centers.¹