Infinio Secures $10 Million In Series A Funding From Highland Capital Partners, Bessemer Venture Partners Startup formerly named SilverLining Systems is fully funded for launch, hiring
CAMBRIDGE, Mass., Feb. 12, 2013 /PRNewswire/ -- Infinio (formerly known as SilverLining Systems) today announced it has closed a $10 million Series A investment from Highland Capital Partners and Bessemer Venture Partners, bringing total funding to date to $12 million. The firms join earlier investors Lightspeed Venture Partners, Cambridge's Founder Collective, the NYC Seed Fund, and a group of angel investors. As part of the financing, Highland's Sean Dalton and Bessemer's Felda Hardymon have joined the company's board of directors.
Infinio is developing software solutions to address the most expensive bottleneck in virtual environments: storage performance. The new funding will support additional hiring, product development, and marketing groundwork in preparation for a product launch later this year. Those interested in joining the team should email firstname.lastname@example.org.
The company was formed in 2011 when Columbia computer science professor Vishal Misra and his fellow researchers saw the potential for their work to solve real-world problems. Misra enlisted co-founders including Endeca veteran Arun Agarwal.
"The majority of performance problems in virtual environments are storage-related," Agarwal, Infinio CEO, said. "Storage systems represent a huge portion of IT budgets, and too often, data center managers find themselves buying more hardware in an effort to improve performance, even when they have plenty of storage space. We're building a software product that will help solve that problem."
Infinio Systems, Inc. is building solutions that improve the data storage performance of virtualized environments. Based in Cambridge, Mass., with offices in New York, the company enjoys strong financial backing from tier-one venture capitalists including Highland Capital Partners, Bessemer Venture Partners, and Lightspeed Venture Partners. Infinio is an Elite-level member of the VMware Technology Alliance Partner program. More information is available at www.infinio.com.