Avere Systems Closes $14 Million Series E

Avere Systems, Inc. announced the close of a $14 million Series E funding with participation from existing investors Menlo Ventures, Norwest Venture Partners, Lightspeed Venture Partners, Tenaya Capital and Western Digital Technologies and new investor Google Inc.

The new investment brings company’s total funds raised to $97 million, and will be used to expand the company’s hybrid cloud product offerings so that more organizations can easily take advantage of the public cloud.

Avere is in the hybrid cloud market, helping enterprises reap the benefits of cloud economics and flexibility with solutions based on its high performance scalable file system.

The firm will use the fresh capital infusion to drive continued product innovation that meets the needs of its growing customer base across industries like media and entertainment, financial services, technology, manufacturing, healthcare research and government agencies.

According to Gartner, the worldwide public cloud services market is projected to grow 18% in 2017 to $246.8 billion, as organizations seek ways to adopt the cloud. With the hybrid cloud market estimated to grow to $91.74 billion by 2021, Avere’s FXT Edge filer technology is critical to enabling enterprises to integrate applications requiring file systems into the public cloud.

“For the last several years, we’ve been laser-focused on expanding our product offerings to help customers overcome their biggest infrastructure challenge – embracing the cloud,” said Ron Bianchini, president and CEO, Avere. “In 2016 alone, Avere has grown its cloud business by 97%, nearly doubling growth from the previous year, and closed the year with cloud offerings driving close to half of our annual bookings. This latest investment is a testament to our momentum, the strength of our partnerships, and the hard work our team has dedicated to delivering innovative solutions.”

Read also:
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Bringing total invested to $72 million.
2014.07.11 | Press Release
$20 Million in Series C Funding for Avere
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2012.07.12 | Press Release
Avere Closes $17 Million in Series B Funding
Total at $32 million
2010.08.06 | Press Release
Avere Systems Secures $15 Million
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