US-based hybrid cloud technology producer Avere Systems closed a $14m series E round yesterday that included internet technology provider Google and data storage equipment provider Western Digital.
Venture capital firms Menlo Ventures, Norwest Venture Partners, Lightspeed Venture Partners and Tenaya Capital also invested in the round. Western Digital took part through its corporate venturing subsidiary, Western Digital Capital.
Founded in 2008, Avere provides flexible hybrid cloud data storage services to businesses based on a scalable filing system. It will put the series E funding toward product development and technology.
Ron Bianchini, president and chief executive of Avere Systems, said: “In 2016 alone, Avere has grown its cloud business by 97%, nearly doubling growth from the previous year, and closed the year with cloud offerings driving close to half of our annual bookings.
“This latest investment is a testament to our momentum, the strength of our partnerships, and the hard work our team has dedicated to delivering innovative solutions.”
The round took Avere’s total funding to $97m altogether, according to a press release, including $20m in a series D round led by Western Digital Capital in 2014 that included Norwest, Lightspeed, Menlo and Tenaya.
– Image courtesy of Avere Systems