AAA SwiftStack stores UMC’s cash

SwiftStack stores UMC’s cash

SwiftStack, a US-based developer of data storage services, has raised $6.1m in its series A round from a consortium including UMC Capital, the corporate venturing unit of the eponymous technology company.

Venture capital firms Mayfield Fund, which led the round, and Storm Ventures joined UMC in the deal.

Founded in 2011, SwiftStack raised $1.5m in its seed round.

Frank Lee, vice-president of UMC Capital, said: “Hardware is rapidly accelerating to become commoditized, and SwiftStack uncovers the potential of this raw capacity through its innovative storage system.

“The company is poised to leverage the changing landscape, where customers are looking to make use of standards-based hardware for their storage needs.”

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