SSD storage solutions developer Kaminario Inc. has raised $15 million in its third financing round led by Globespan Capital Partners and joined by current investors Pitango Venture Capital and Sequoia Capital. The company has raised $34 million since it was founded in 2008.
Kaminario CEO Dani Golan and COO Ofier Dubovi, both former executives at NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE), founded the company. The company develops high performance storage appliances for enterprises.
The financing is the first round since Kaminario launched its K2 product in July 2010. The company will use the proceeds to expand the K2 product line, sales distribution channels and marketing.
Kaminario is headquartered in Waltham, Massachusetts and has a development center in Yokne'am. According to IVC, it has 50 employees.
In contrast to the private space, where data is increasingly stored on Flash memory chips, which have replaced disks, enterprise storage systems, the introduction of next-generation solutions has been relatively slow. SSD storage solutions are the answer, as they are considered faster and more energy and memory efficient than HDD magnetic storage solutions.
Kaminario's SSD solutions are based on DRAM high-speed direct memory processors. The company says that its solutions offer 2-25 better performance than enterprise applications.
Globespan managing partner Venky Ganesan said, "The market for SSD storage is growing at a tremendous rate, but very few of these vendors can address true enterprise storage requirements."
Kaminario also announced today that Gartner Group named it "Cool Vendor in Storage". In February, InfoStor named the company one of its top ten start-ups.
Published by Globes [online], Israel business news - www.globes-online.com - on May 2, 2011
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