Avere Systems, Inc., a Pittsburgh, PA-based provider of Demand-Driven Storage solutions that dynamically organize data in response to business demand, has closed a $17m Series B funding round.
The round, which was led by Tenaya Capital, with participation from original investors Menlo Ventures and Norwest Venture Partners, follows a $15m Series A financing that Avere has closed in September 2009.
In conjunction with the funding, Brian Paul, Managing Director of Tenaya Capital, joins the company’s board.
Commenting on the investment, Mr. Paul, said: “I look forward to joining the company’s Board of Directors and helping Avere to continue to deliver superior business results”.
The company, which launched its FXT Series less than a year ago, has enjoyed success among customers, analysts and industry press. In the past few months, Avere has closed major deals with companies like Sony Pictures Imageworks and GX Technology.