Storage company XtremIO raises $14m

Battery Ventures led the round.

XtremIO, a developer of storage solutions based on Flash technology, announced today that it had completed a round of funding worth $14 million. Venture capital fund Battery Ventures, led this round of funding, along with current investors Giza Venture Capital and JVP. XtremIO will use these funds to accelerate its product development.

"We are keen investors in IT infrastructure and are happy to take part in the storage revolution of Flash and SSD technologies," said Battery Ventures partner Itzik Parnafes. "XtremIO represents innovation. The leaders of the company embody the spirit of creative Israeli entrepreneurship, which we hold in great esteem."

We are proud to continue our cooperation and to support XtremIO and its management," Giza managing partner Eyal Niv and JVP partner Kobi Rozengarten said. "The company continues to benefit from growing interest in its solution for SSD based storage and from the market's recognition of the central role for storage technology in computing and data processing."

"We are proud that Battery Ventures is joining as an investor and partner," said XtremIO CEO Ehud Rokach. "Our storage solutions are contending with some of the most complex challenges in modern enterprise computing."

Published by Globes [online], Israel business news - - on June 6, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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