Velostrata Closes $17.5 Million Series B FundingAfter $14 million in series A last year
This is a Press Release edited by StorageNewsletter.com on 2016.08.09
Velostrata, Inc., in cloud workload mobility, announced $17.5 million in series B funding led by strategic investor Intel Capital, with participation from existing investors Norwest Venture Partners and 83North.
Velostrata software enables customers to adopt a hybrid cloud strategy that incorporates public and private clouds.
This latest funding will be used to accelerate growth, particularly within the mid-to-large enterprise market.
The company also announced the availability of Velostrata 2.0, which provides a non-disruptive and low-risk approach for moving applications and their data to the cloud, both for short-term use cases like development and testing, as well as for long-term migration.
"As enterprises race to keep pace with the demands of the modern and rapidly changing business, IT's ability to leverage the trust, control and reliability of private cloud along with the simplicity, affordability and flexibility of the public cloud is increasingly important," said Issy Ben-Shaul, CEO and co-founder, Velostrata. "That's why the attention and demand for Velostrata has increased dramatically in the last year. The flexibility to move data-rich workloads from legacy environments to both private and public cloud is a challenge for most enterprise IT departments, and Velostrata is mitigating the risks, downtime and complexity once associated. We're delighted to welcome Intel Capital as a strategic investor, as well as Norwest Venture and 83North as repeat investors, as we continue to eliminate boundaries around hybrid cloud computing."
Unlike other cloud migration and hybrid cloud solutions, Velostrata's patent-pending technology decouples compute from storage, making it possible to move compute to the cloud in minutes - while controlling and automating where storage resides: whether in a private cloud, public or a combination of both.
With Velostrata's agentless solution, there is no need to modify workload images or manage lengthy replications and complex cutover processes. Companies deploy Velostrata to automate, accelerate and de-risk their use of the cloud. Applications can be migrated to and from the public cloud in minutes, regardless of the size of the image or data virtual disks, with a simple cutover and consistency.
"Enterprises require a hybrid cloud strategy as the new foundation for business success," said Patrick Buddenbaum, GM of enterprise cloud solutions, Intel's data center group. "Velostrata's technology helps provide portability and seamless application management across legacy, private and public cloud resources, enabling IT to optimize at any time their TCO, growth and compliance within their hybrid cloud environment."
"Storage has been the primary challenge when migrating applications to the public cloud," said Dror Nahumi, general partner, Norwest Venture Partners. "We are thrilled to see the progress Velostrata has made helping customers overcome this."
"Velostrata continues to innovate and eliminate the migration risks once associated with enterprise adoption of hybrid and public cloud computing," said Yoram Snir, partner, 83North. "We are pleased to continue our support of their consistent success and dedication."
5/ $14 Million in Series A Funding for Velostrata …
Founded in 2014 with HQs in San Jose and R&D in Israel
2015.08.31 | Press Release