2014

Maxta Accelerates Transformation to Converged Data Centers with $25 Million Series B Funding Round Leading venture capital firms validate need for hyper-converged enterprise data centers and software-defined storage

SUNNYVALE, Calif., May 7, 2014 /PRNewswire/ -- Maxta, a developer of the VM-centric storage platform MxSP™ that turns standard servers into a converged compute and storage solution for virtualized environments, today announced that it has closed a $25 million Series B funding round led by new investors Tenaya Capital and Intel Capital. Existing investor Andreessen Horowitz also participated in this round. Maxta will use the new funding to increase its investment in product development and to expand its marketing, sales and support efforts.

Tweet this: Say Goodbye to the SAN in the Virtual Data Center, @Maxtainc receives $25 Million in Series B Funding Round #TenayaCapital @IntelCapital @a16z

The Maxta Storage Platform is a hypervisor-agnostic, highly resilient enterprise storage platform for the virtual data center. It fully integrates with server virtualization at all levels from user interface to data management, while supporting all possible deployments of virtual data centers, including private, public and hybrid clouds. Through its software-only solution, Maxta turns standard servers into a converged compute and storage solution. This results in greater simplicity and economics eliminating the need for traditional storage arrays in the virtual data center.

"We are very excited about Maxta's disruptive technology and the value they bring to customers," said Brian Paul, Managing Director at Tenaya Capital. "By providing Maxta with the working capital they need to rapidly expand their business, I anticipate their innovative MxSP storage solution will see increased adoption rates with users who can now make the most of their server virtualization investment without giving up enterprise-class data services."  

"We see converged, software-defined storage as an innovative trend in virtualized enterprise IT that drives efficiency, ease of use and costs," said Arvind Sodhani, President of Intel Capital and Executive Vice President of Intel Corp. "The investment in Maxta is a way to accelerate this trend, while supporting Intel's innovation strategy, and it helps radically change the economics of storage for customers."

"As the original investor in the company, we have long believed that Maxta will redefine the enterprise storage landscape through its innovative converged storage platform," said Peter Levine, partner at Andreessen Horowitz. "We are pleased to continue our support of this vision by being a part of the latest funding round, which will help Maxta scale its own infrastructure to meet the pent-up demand for solutions that meet all the needs of today's virtual data center."

"Closing this funding round with such stellar investors is a clear validation of our approach to simplifying and streamlining IT by thinking outside the storage box," said Yoram Novick, Maxta founder, president and CEO. "This infusion of funds will be used to expand product innovation and scale our business to accelerate the adoption of the virtual data center."

About Tenaya Capital
Tenaya Capital is a leading venture capital firm with over $1 billion under management. The firm invests in high-growth technology companies in the enterprise software, consumer Internet, IT infrastructure, communications and electronics sectors. Tenaya Capital is currently investing out of Tenaya Capital VI. The firm has offices in Portola Valley, California, and Wellesley, Massachusetts. For more information, visit www.tenayacapital.com.

About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,339 companies in 55 countries. In that timeframe, 206 portfolio companies have gone public on various exchanges around the world and 344 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.

About Andreessen Horowitz
Andreessen Horowitz backs bold entrepreneurs who move fast, think big and are committed to building the next major franchises in technology. Founded by Marc Andreessen and Ben Horowitz, we provide entrepreneurs with access to our deep expertise and insights in innovation, business development, market intelligence, executive and technical talent, and marketing and brand building. Find us in Menlo Park, California, and at www.a16z.com.

About Maxta
Maxta is redefining enterprise storage by delivering a storage platform that is simple, agile and cost efficient for virtualized environments as well as supporting a wide spectrum of enterprise-class data services and capacity optimizations. For more information, visit http://www.maxta.com.

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SOURCE Maxta Inc.



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