Graphics processing technology producer Nvidia has agreed to buy SwiftStack, a US-based data storage software provider backed by semiconductor foundry UMC, for an undisclosed amount.
Founded in 2011, SwiftStack has built a software platform used to store and organise data across data centres, public clouds and edge devices for data-intensive workflows and applications in areas like artificial intelligence, media management and life sciences.
The deal comes in the wake of $23.6m in funding for the company, which secured $6.1m in a 2013 series A round led by venture capital firm Mayfield Fund and backed by UMC Capital, which functions as the corporate venturing arm of UMC, and VC firm Storm Ventures.
All three series A investors returned for a $16m series B round that was led by OpenView Venture Partners the following year.
Joe Arnold, SwiftStack’s co-founder and chief product officer, said: “Building AI supercomputers is exciting to the entire SwiftStack team. We could not be more thrilled to work with the talented folks at Nvidia and look forward to contributing to its world-leading accelerated computing solutions.
