Israeli cloud storage solutions company Pliops today announced that it has closed a $30 million Series B financing round led by Softbank Ventures Asia with participation from all Series A investors including Intel Capital, State of Mind Ventures (SOMV) and Viola Ventures, along with strategic investors Western Digital Capital and Xilinx. The oversubscribed round brings the total invested in Pliops to date to $40 million, including the October 2017 Series A funding of $10 million.
Pliops will use the funds to accelerate development of its storage processor technology for cloud storage and database applications, including expansion of its teams in the US, Israel and China.
The Pliops storage processor allows cloud databases like MySQL or Cassandra deployed on disaggregated Flash to scale more efficiently via a 90% reduction in compute load, a 20x reduction in network traffic, a 50x improvement to latency and over 10x application throughput. The Pliops product delivers step function improvements across computer, networking and storage infrastructure to enable more scalable and cost effective cloud services.
With offices in Ramat Gan and Haifa, Pliops was founded by CEO Uri Beitler, chairman Arie Mergi and CTO MosheTwitto. Most of the company's 35 employees are in Ramat Gan.
Beitler said, "Businesses must scale their infrastructures in the face of skyrocketing data volumes, and we’re excited to help them. Pliops’ technology transforms storage so that organizations achieve more consistent, readily-scaled performance with a simplified software stack. We are proud to have achieved the backing of such esteemed leading investors and to see early market traction. We look forward to sharing more about our flagship product in the coming months."
"Pliops is solving a critical problem for database and storage architects - and doing it in a way that is both elegantly simple and amazingly efficient," said JP Lee, CEO and managing partner at Softbank Ventures Asia. "There is tremendous pent-up demand worldwide for solutions that enable next-generation data centers to perform and scale more efficiently, particularly in large cloud providers’ environments. Pliops’ architecture enables order of magnitude improvements in performance and even greater price/performance gains. We’re delighted to welcome the company to the Softbank Ventures Asia portfolio."
"Pliops’ core technology helps to accelerate the cloud and AI workloads that are driving the next wave of innovations," said Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital. "Intel is investing in numerous technologies to meet the rapidly growing storage and processing needs of the most challenging applications. This investment in Pliops advances Intel’s vision to develop the most efficient, scalable data center solutions."
Published by Globes, Israel business news - en.globes.co.il - on January 30, 2019
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