Hive-IO, a NYC-based developer of software-defined datacenter solutions, completed its Series B Round of financing of undisclosed amount.
The round was led by Rally Ventures with participation from Citrix Systems, Osage Venture Partners, and El Dorado Ventures. As part of the funding, Nate Lentz, Managing Partner at OVP joined the Hive-IO Board of Directors.
The company intends to use the funds to accelerate product development as well as continue to build out its operations, and sales and marketing infrastructure.
Led by Joe Makoid, CEO, Hive-IO offers a complete hyperconverged software solution that reduces storage needs and provides security and can be delivered on-premise through a managed services provider. It is in use in some of the largest virtual infrastructure implementations across the world.
The company recently acquired certain assets of Atlantis Computing, a provider of Software-Defined Storage to expand its storage offering to include an intelligent software-defined solution that increases performance and capacity to lower the cost of VDI deployments.