Reduxio is a World Leader in Storage Innovation with Next Generation Hybrid Storage Systems; Funding to Accelerate Market Entry
SAN FRANCISCO, CA, Oct 6, 2014 /PRNewswire/ -- Reduxio Systems, the next-generation hyper-efficient hybrid storage innovator, announced today that it has closed a $15 million Series B funding, led by Seagate Technology plc (NASDAQ: STX), a world leader in storage solutions, and joined by existing investors Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital. This comes just one year after last year’s round of $12 million.The funds will accelerate Reduxio’s product development and support its go-to-market plan. In conjunction with this investment, Seagate will obtain a seat on the Reduxio Board of Directors.
“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.”
About Reduxio Systems
Reduxio™ is building the next-generation enterprise hybrid storage arrays that provides breakthrough cost and capacity savings for customers. Reduxio’s revolutionary new storage operating system implements active tiering across multiple tiers, NoDup™in-line deduplication and compression, and BackDating™for infinite data recovery.
Reduxio’s multi-tier infinite storage systems are specifically designed for today’s storage environments focusing on cloud, virtualization and structured data sets. Reduxio's operating system and next generation smart placement algorithms will redefine price/performance and functionality for enterprise storage buyers.
Reduxio was founded by leaders from IBM, EMC, NetApp and Dell, and is backed by Seagate Technology, JVP, Carmel Ventures and Intel Capital.
Seagate is a world leader in hard disk drivesand storage solutions. Learn more at www.Seagate.com. Seagate and Seagate Technology are registered trademarks of Seagate Technology LLC.
The names of companies mentioned herein are the trademarks of their respective owners.