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Unicorns

Israel’s AI-native data platform provider WEKA Hits Unicorn Status

WEKA

WEKA founders Liran Zvibel, Omri Palmon and Maor Ben Dayan. (WEKA)

Israeli startup WekaIO (WEKA) offers an AI-native data platform provider for next-generation workloads is now a unicorn with a valuation of $1.6 billion. The coveted unicorn status came after WEKA raised $140 million in an oversubscribed Series E funding round comprised of combined primary and secondary transactions led by Valor Equity Partners, a previous investor in the company. Under the terms of the deal, Valor’s founder, CEO and Chief Investment Officer, Antonio Gracias, will join WEKA’s board.

Founded in 2013 by Israeli entrepreneurs Liran Zvibel, Maor Ben-Dayan, and Omri Palmon, WEKA offers WEKA Data Platform, 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.

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.

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“The continued backing of this preeminent group of investors speaks volumes: WEKA is building something truly transformative that modern data-driven organizations need now, more than ever,” said WEKA cofounder and CEO Liran Zvibel. “We are grateful to our returning backers for their support and are honored to welcome Antonio Gracias to our board of directors. Antonio has played a pivotal role in helping build some of the world’s most innovative and disruptive companies. We look forward to collaborating with him as we scale to create new value for WEKA’s customers, partners, and shareholders.”

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