Nirvanix Received an Additional $5 Million in Funding

Nirvanix it has raised an additional $5 million in funding from original investors Intel Capital, Mission Ventures, Valhalla Partners and Windward Ventures, bringing the total amount provided to over $23 million.

Nirvanix will use the funds to expand its enterprise service offerings utilizing experiences gained from managing storage for its worldwide customer base.

In its first 18 months, Nirvanix has launched the global Storage Delivery Network (SDN), standing up five nodes in the US, Europe and Asia. In addition, the company introduced its award winning CloudNAS, making cloud storage integration into enterprise environments a simple turn-key process and has signed up more than 500 business customers worldwide, including leading Fortune 10 and Media & Entertainment companies.

“Nirvanix continues to be a leader with its innovative approach to providing enterprise customers with next-generation long-term data retention,” said Bryan Wolf, Managing Director of Intel Capital. “We have been impressed with the company’s ability to execute and the position they’ve achieved.  We are confident that continued investment in Nirvanix will result in increased opportunities in a rapidly expanding industry.”

“We are pleased that Nirvanix’s progress has given our investors the confidence to extend their investment, especially in these unprecedented economic conditions. This latest round of funding will allow us to expand the business to take advantage of the opportunities we have uncovered working with our existing customers,” said Jim Zierick, President and CEO of Nirvanix.  “The dramatic increase in demand for Cloud Storage will continue to grow as enterprises look for new ways to cost-effectively manage data growth as the economy stresses IT and storage management budgets.”