Avere scoops up $14m to expand hybrid cloud offering, adds Google as investor
Avere Systems CEO Ron Bianchini: "In 2016 alone, Avere has grown its cloud business by 97 percent."
A flexible cloud offering is the main focus for Pittsburgh-based Avere Systems, which just announced a new cash injection of $14m to add to $83m it had already raised.
Investors in the round included Menlo Ventures, Norwest Venture Partners, Lightspeed Venture Partners, Tenaya Capital, and Western Digital Capital, as well as new investor Google.
The company claims its Avere OS file system can boost performance within standard, on-premises, network-attached storage systems as well as within diverse, hybrid architectures that include cloud provider services.
The Avere system gets the performance through the use of predictive logic. In this way, the software tries to anticipate where a user is going to look for a piece of data before the user looks for it.
Because the data will be stored on varied media and some data can be accessed more quickly than others, the software allocates the information most often accessed to the fastest, more expensive media and the less frequently accessed data to the slowest and cheapest. Because needs change all the time, the system switches between fast or slow access continuously.
Avere said the money will be used to "expand the company's hybrid cloud product offerings so that more organizations can easily take advantage of the public cloud".
Avere CEO Ron Bianchini said the company has "grown its cloud business by 97 percent, nearly doubling growth from the previous year".
"For the last several years, we've been laser-focused on expanding our product offerings to help customers overcome their biggest infrastructure challenge -- embracing the cloud," said Bianchini.
According to Gartner, the worldwide public cloud services market is projected to grow 18 percent in 2017 to $246.8 billion, as organizations adopt the cloud. Meanwhile the hybrid cloud market is estimated to grow to $91.74 billion by 2021.
Avere's FXT Edge filer technology is used by enterprises to integrate the applications requiring file systems into the public cloud.