Avere Systems recently announced the finalization of $14M in Series E funding. The Series E funding raise features a new investor, namely, Google Inc., and existing investors Menlo Ventures, Norwest Venture Partners, Lightspeed Venture Partners, Tenaya Capital and Western Digital Capital. Avere Systems specializes in storage products and solutions that optimize the performance of storage infrastructures for hybrid cloud environments by empowering customers to access stored files, whether they are stored in the cloud or on premise, without sacrifices to file availability or performance. In recognition of the need to manage, scale and optimize storage solutions for on-premise storage as well as cloud-based storage, Avere Systems delivers a portfolio of products and services that help ease enterprise adoption of cloud computing, with a specialization in the intersection of storage and hybrid cloud deployments. Based in Pittsburgh, PA, the company has raised a total of $97M to date.
The Series E funding raise is notable because of Google’s addition to Avere’s roster of investors as well as the continued support of Western Digital Capital, the venture capital firm associated with Western Digital. The ability of Avere Systems to garner high profile investors with deep investments in enterprise storage such as Google and Western Digital speaks to its success in gaining traction in the rapidly growing hybrid cloud space. That Avere Systems has been able to carve out a niche with respect to facilitating high performance access to data for computational and long-term storage purposes underscores the success of its strategy to serve the storage needs of organizations that leverage a plurality of on-premise and cloud-based infrastructures. The funding will be used to support product development and innovation for Avere System’s customers with a specific focus on expanding its portfolio of products for the hybrid cloud.