Terascala Closes Additional Equity Funding

TERASCALA_LOGO_COLORTerascala, a Boston, MA-based data company, closed an additional equity funding.

The amount of the transaction was not disclosed.

The round was co-led by Ascent Venture Partners, Harborlight Capital Partners, and Thomas Weisel Partners. In addition, Terascala signed a significant financing package with Bridge Bank, N.A. of San Jose, Calif. Under the terms of the financing, the company secured two lines of working capital as well as an additional asset based lending facility.

Led by Steve Butler, CEO, Terascala provides storage appliances to accelerate the time to insight for organizations that rely on simulation, analysis, and modeling tools to bring new products and innovation to market.┬áThe company’s solutions are available exclusively through strategic partners Dell and NetApp.

The funding round will enable additional investments in the Intelligent Storage Bridge (ISB), which is a high-performance workflow manager designed to transfer large data sets automatically between fast scratch storage and enterprise storage.



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