Israeli storage processor co Pliops raises $65m

Data Center

Through its storage processor, the company substantially accelerates the processing of data-intensive applications in data centers.

Israeli storage processor and database acceleration company Pliops announced today that it has completed a $65 million oversubscribed financing round led by Koch Disruptive Technologies (KDT). All current investors, including State of Mind Ventures (SOMV), Viola Ventures, Intel Capital, Softbank Ventures Asia, Expon Capital, Western Digital, Xilinx, Sweetwood Capital and Menora Mivtachim Holdings  participated in the round, with Nvidia increasing its share.

This latest funding will enhance Pliops ability to deliver game-changing value for enterprise and cloud customers. The investment will be used to bring the new levels of scale, speed and cost effectiveness promised by Pliops’ storage processor to more customers in more ways.

With offices in Ramat Gan and Haifa, Pliops was founded by CEO Uri Beitler, chairman Arie Mergi and CTO MosheTwitto. The company says its mission is to revolutionize the way data and storage are managed in the data center, the company plans to scale its technology into new use cases, expand its product line, and double the size of the company by the end of 2021.

Beitler said, "With data storage - and the computational requirements for processing that data - growing at an exponential rate, status quo approaches fall short. Our solution takes a new approach that enables unprecedented scalability in data centers."

Pliops' storage processor unlocks the full potential of SSD storage by exponentially improving cost, performance and endurance. Through its storage processor, the company substantially accelerates the processing of data-intensive applications in data centers.

Published by Globes, Israel business news - en.globes.co.il - on February 24, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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