SageCloud, Inc., a Boston, MA-based provider of storage systems for archival and backup data, completed a $10m Series B financing.
The round was led by Braemar Energy Ventures with participation from existing investor Matrix Partners. In conjunction with the financing, Dr. Jiong Ma, Partner at Braemar, will join SageCloud’s Board of Directors.
The company intends to use the funds to accelerate deployment of its products with initial customers and expand operations.
Founded by CEO Jeff Flowers, SageCloud provides storage systems which are specifically engineered to allow data center professionals to optimize energy efficiency and long-term data preservation by combining intelligent data management software and open-standard hardware.
The company’s solution is designed for enterprises concerned with performance, compliance, and control of Petabyte-scale backup, archive and Big Data storage.