Israeli Stealthy Start-Up Iguazio Raises $15 Million in Series A
In data management and storage solutions for big data, IoT and cloud applications software
This is a Press Release edited by StorageNewsletter.com on December 11, 2015 at 2:55 pmIguaz.io, a provider of data management and storage solutions for big data, IoT and cloud applications announced a $15 million Series A funding round.
Led by Magma Venture Partners, the funding includes additional investments from Jerusalem Venture Partners (JVP) and large strategic investors.
The iguaz.io founding team is comprised of a group of former executives from technology companies in the fields of storage, cloud computing, high-speed networking, analytics and cyber-security. These companies include XtremIO (acquired by EMC), XIV (acquired by IBM), Mellanox, Voltaire (acquired by Mellanox) and Radvision (acquired by Avaya).
Over the past two decades, the team has enabled enterprise customers to evolve their data centers and has helped leading cloud operators design and deploy their hyper-scale data centers. Iguaz.io will use the funding to continue growing its team of experts in the spaces of big data, storage, security and networking.
According to IDC, the market for big data will surpass $41 billion by 2018, growing six times faster than the overall IT market.
“Big data and cloud computing are creating tectonic shifts in the market, setting the stage for market disruptions,” said Yahal Zilka, managing partner, Magma Venture Partners. “The iguaz.io team, with its innovative approach, is well positioned to disrupt the market.”
“Iguaz.io has attracted top talent with diverse, multidisciplinary skills and experience,” said Kobi Rozengarten, managing partner, JVP. “The team, with its impressive record of innovation and execution, has what it takes to deliver their ground-breaking solution.”
“Enterprise customers have been sharing their pain points and challenges with us as they try to adopt big data and predictive analytics in their business,” said Asaf Somekh, co-founder and CEO, iguaz.io. “We designed our solution from the ground up to address these challenges and allow our customers to focus on their applications and business.“
“The IT industry is undergoing major shifts with the spread of cloud technologies on the one hand and new data consumption requirements on the other,” said Yaron Haviv, co-founder and CTO, iguaz.io. “We’re leveraging state-of-the-art hardware with our novel software architecture enabling customers to take a leap forward in their data-driven businesses.”
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More on iguaz:
The secretive start-up didn't reveal up to now what it intends to do.
On the first page on its web site you can only read: "Iguaz.io is a stealthy start-up with an innovative approach to data management addressing the unique challenges of big data applications."
With currently about 25 employees and hiring, Iguaz.io (pronounced ee-gua-zee-o) was co-founded last year in Herzliya, Israel, by three executives, all of them with a long career at Voltaire and two of them most recently co-founders of all-flash storage system company XtremIO sold in 2012 for $430 million to EMC. One of XtremIO’s investors, Jerusalem Venture Partners, also put money in the new venture.
The three co-founders of iguaz.io are:
* Asaf Somekh, CEO, was formerly for two years VP marketing and business development at Compass-EOS, and, before that, for ten months as VP solution marketing for Mellanox. Previously he worked for ten years at Voltaire, ending as VP marketing.
* Yaron Haviv, CTO, was formerly VP datacenter and storage solutions at Mellanox and at Voltaire for 10 years finishing as CTO.
*Yaron Segev founding investor and board member, was most recently co-founder, VP technology at XtremIO (part time), division of EMC, following the acquisition by EMC of XtremIO where he was co-founder, COO, VP R&D and board member. He worked also around 7 years at Voltaire.
Iguaz is apparently designing a software solution to solve the problem of rigid big data analytics handling without expansive in-memory processing like Sparks. In this kind of scale-out object-based storage market, competitors could include, Caringo, Cloudian,Cohesity, Hedvig, Nutanix, QuoByte, Qumolo, Rozo Systems, Scality, etc.
On its blog, the company asks the question: "What should be the key BigData solution elements?".
Its technology could be around the following diagram:
For iguaz, a complete solution will need:
- Scalable and high-speed messaging layer for ingestion (e.g. Kafka)
- Stream or in-memory processing layer (e.g. Spark)
- Batch processing for crunching and digesting large datasets (e.g. MapReduce)
- Interactive real-time analytics and SQL tools for presenting the data
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