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$2.5 Million Series A Funding for NVMdurance

Bringing total to $2.8 million

Irish technology company NVMdurance, extending the life of SSDs, completed a $2.5 million series A round of financing.

Existing investors New Venture Partners LLC, ACT Venture Capital AIB Bank, Enterprise Ireland and NDRC have invested bringing total funding to $2.77 million.

NVMdurance provides software to make flash memory last longer by extending the intrinsic endurance of the NAND flash.

NAND flash chips are used in many devices, including SSDs, laptops, tablets, mobile phones, GPS devices, USB drives and flash memory cards.

The company was founded because a unique way of improving flash memory endurance had been identified,” said Pearse Coyle, NVMdurance CEO. “We now have a number of clients committed to deploying our technology in SSDs and flash arrays, two of which have provided revenue advances alongside this Series A funding round. We will announce these clients during 2016. This new funding will help NVMdurance expand its sales and marketing efforts as well as grow our engineering team.”

As flash manufacturers continue to pack more bits onto ever smaller storage cells, the endurance (wear-out) issue for NAND flash storage users becomes a greater issue. This trade-off between memory cost (per gigabyte) and endurance means that the endurance problem is never really solved – endurance improvements simply reduce the cost of the flash.

NVMdurance software compounds the endurance gain currently being achieved by other means (e.g. ECC or overprovisioning). The power behind NVMdurance is the use of offline machine learning software that automatically learns the optimal parameter settings for the NAND device.

The series A financing builds on an exceptional year from NVMdurance which saw its first customer announcement – with Altera (now part of Intel),” said Steve Socolof of New Venture Partners. “The NVMdurance software increases the number of program-erase cycles in Altera’s FPGA-based storage reference design by up to 7 times compared to existing NAND flash implementations.”

Read also:
$800,000 Funding Round for NVMdurance After $300,000 Last Year
Irish start-up in software for NAND flash endurance
2014.08.06 | Press Release

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