Reduxio Systems, a Petach Tikvah, Israel-based hybrid storage provider, closed a $15m Series B funding.
The round was led by Seagate Technology plc (NASDAQ: STX), with participation from existing investors Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital. In conjunction with this investment, Seagate will obtain a seat on Reduxio’s Board of Directors.
The company intends to use the funds to accelerate product development and support its commercialization plan.
Led by Mark Weiner, Chief Executive Officer, Reduxio Systems is building enterprise hybrid storage arrays specifically designed for today’s environments focusing on cloud, virtualization and structured data sets.
FinSMEs
06/10/2014