Burlywood Completes $10.6 Million Series A Funding Round
LONGMONT, Colo.--(BUSINESS WIRE)--Sep 12, 2018--Burlywood, an innovator of flash-based storage for cloud data centers, today announced that it has completed its Series A funding with proceeds totaling $10.6 million. The money raised will drive strategic-growth initiatives, accelerate go-to-market activities and support the progression of Burlywood’s TrueFlash™ storage software solution towards mass production.
The Series A funding round was led by Michael Jones and John Scarano with participation from Acadia Woods Partners. Mr. Jones is an investor, strategic advisor, and entrepreneur who founded (i) Structure which was purchased by Infocrossing and subsequently WIPRO. He was also previously the CIO of Level 3 Communications and Corporate Express.
Mr. Scarano is the co-founder and former COO of Zayo, the former Vice Chairman of euNetworks, and was responsible for deployment of Level 3′s original network; he is a current adjunct professor in CU’s graduate engineering school and a serial investor in scale-up businesses in several industries.
Acadia Woods Partners is a New York-based investment partnership that focuses primarily on early-stage technology companies. Burlywood’s initial startup and launch financing was funded primarily by Angel investors.
“Burlywood closed a $10 million Series A funding round almost exclusively from individuals, with the vast majority coming from industry insiders,” said Jones. “Raising this amount of capital from individuals is quite an accomplishment and is a testament to Burlywood’s approach to re-inventing flash and accelerating business transition to the all-flash data center. I’m confident Burlywood’s TrueFlash technology is going to be disruptive to the storage industry by improving the ROI of flash adoption. They will do this by delivering meaningful cost reduction, increased performance and application-specific functionality.”
Led by an expert team with decades of storage controller experience, Burlywood has built an architecture that allows for rapid innovation and flexible integration of customer requirements. With the introduction of TrueFlash, Burlywood is providing the industry’s first modular flash storage architecture that accelerates time to market of new flash technology while delivering disruptive cost and performance benefits to customers deploying cloud storage solutions, all-flash arrays, and hyper-converged solutions.
“When it is time to search out funding opportunities, I think something more important than simply finding a source of available cash is finding people that you can truly partner with to help bring your company to the forefront of your respective industry,” said Tod Earhart, CEO of Burlywood. “Our investor base includes many experienced veterans in major technology segments including storage, data centers, and large scale network infrastructure who are very excited about our disruptive approach to storage architecture and delivery. We are excited to have investors that understand our opportunity and can help position us for large scale success.”
Accelerating the transition to the all-flash data center, Burlywood’s patented TrueFlash™ software is the industry’s first modular software-defined flash controller architecture designed specifically for hyperscale data centers and cloud applications. The flexibility of TrueFlash Software enables rapid innovation to match the pace of today’s cloud storage evolution with an entirely different approach to flash storage design, implementation, and procurement. Burlywood is powered by a highly productive, expert development team comprised of executives from companies such as HP, Western Digital, Hitachi, Micron and Intel. Find out more about how Burlywood is allowing flash to be used as it was intended at https://www.burlywoodtech.com.
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KEYWORD: UNITED STATES NORTH AMERICA COLORADO
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE OTHER TECHNOLOGY
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