AUSTIN, Texas--(BUSINESS WIRE)--Aug 29, 2018--infinite io, the developer of the award-winning Network-based Storage Controller, today announced that it has closed on an oversubscribed $10.3M Series B funding round. The round was led by former Motorola CEO and Cleversafe Chairman Chris Galvin, and Chris Galvin’s son David of Three Fish Capital and formerly of IBM. It also includes capital from Chicago Ventures, John Anderson, Dougherty and Company, Equus Holdings, and PV Ventures.

Several industry luminaries participated in the round: Dean Drako, founder and former CEO of Barracuda Networks and founder and current CEO of Eagle Eye Networks; Brett Hurt, co-founder and former CEO of Bazaarvoice and current co-founder and CEO of data.world; Bill Miller, co-founder and former CTO of Storage Networks and current CEO of X-IO-technologies.

“infinite io is disrupting the data storage industry with an unheard-of value proposition: lowering overall storage costs by transparently migrating inactive data to a cloud, while also providing record-breaking performance for data that is in use,” said Mark Cree, co-founder and CEO of infinite io. “We are proud to welcome this exceptional group of investors onboard as we begin the journey to completely rewrite the rules in data management and performance optimization.”

The new funds will be used to scale operations globally and accelerate the company’s growing momentum in the market. infinite io is now being used by leading enterprises in media and entertainment, genomics, higher education and research, large-scale website development, and government, where performance must be maintained as data scales to multiple petabytes and beyond.

“We invest in teams with a proven track record that take a highly differentiated approach to address a well-defined large market opportunity. infinite io’s metadata-driven approach to data management addresses a large market need by solving the data management problem without impacting storage performance – all other approaches force the customer to compromise performance when managing data at scale and usually involve other drawbacks like capacity-based pricing,” said Stuart Larkins, Partner at Chicago Ventures. “We are excited to help infinite io redefine the rules in data storage, and their metadata-driven approach has the potential to change how the world manages data forever.”

About infinite io, inc.

infinite io is changing the underpinnings of data storage by putting storage intelligence in the network. Our unique architecture responds to metadata requests faster than the most advanced all-flash storage arrays, significantly increasing the performance of existing storage systems. And when that metadata indicates files are no longer being accessed, they are migrated to low-cost cloud storage, all without sacrificing security or availability. Enterprises gain the immediate benefits of increased application performance and effectively unlimited low-cost data storage. For more information, please visit infinite.io.

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CONTACT: infinite io

Dave Sommers, 512-375-4171

dsommers@infinite.io

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS

SOURCE: infinite io

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PUB: 08/29/2018 10:00 AM/DISC: 08/29/2018 10:01 AM

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