Data management start-up raises $15m


The funding was led by Magma Venture Partners., a provider of innovative data management and storage solutions for Big Data, IoT and cloud applications, today announced a $15 million Series A funding round. The funding was led by Magma Venture Partners, and includes additional investments from JVP and large strategic investors.

The founding team comprises a group of former executives from successful technology companies in storage, cloud computing, high-speed networking, analytics and cyber-security. These companies include XtremIO (acquired by EMC), XIV (acquired by IBM), Mellanox (NASDAQ: MLNX), Voltaire (NASDAQ: VOLT, 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. 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 Magma Venture Partners managing partner Yahal Zilka, "The team, with its innovative approach, is well positioned to disrupt the market."

"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 co-founder and CEO Asaf Somekh, "We designed our solution from the ground up to address these challenges and allow our customers to focus on their applications and business."

Published by Globes [online], Israel business news - - on November 25, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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