E8 Storage, an Israeli early-stage enterprise storage company, raised $12m in Series B financing.
The round was led by Accel, with participation from existing investors Magma Venture Partners and Vertex Ventures. As part of the funding round, Accel’s Kevin Comolli, who led the investment, will be joining E8’s board.
The company intends to use the funds for accelerating go-to-market initiatives by hiring a sales and marketing team in the US, as well as doubling its R&D team in Israel.
Founded in 2014 by Zivan Ori and Alex Friedman who serve as CEO and VP R&D respectively, E8 Storage provides a Non-Volatile Memory Express (NVMe) flash storage product which enables a new generation of high-performance enterprise applications such as real-time market data analytics, hyper-scale data centres and high-performance computing by combining performance (10M IOPS) and latency on par with local NVMe flash (100us/50us of read/write) with benefits of software-based centralized storage.