US-based cloud storage and software provider Cloudian raised $24m on Tuesday in a series C round backed by Intel Capital, the corporate venturing unit of semiconductor maker Intel.
Innovation Corporate Network of Japan (INCJ), the state-run organisation aimed at promoting business in Japan, and Fidelity Growth Partners, the private equity arm of investment firm Fidelity, also participated.
Cloudian is a cloud object storage platform that companies and service providers can use to build out hybrid cloud storage. The new funding will be used to support the increase of Cloudian’s global sales and extend its marketing reach.
Michael Tso, chief executive and co-founder of Cloudian, said: “With this funding, we will accelerate the deployment of our production-proven storage solutions and revolutionise the cost, scalability and availability models for storing unstructured data in the enterprise.”
Intel invested in Cloudian in October 2013 as part of a series B round revealed by a subsequent SEC filing to be sized at $5.1m. Investment bank Goldman Sachs was also an early investor.
As a result of the new funding, a representative from INCJ will join Cloudian’s board.