TEL-AVIV, Israel, April 17, 2013 /PRNewswire/ --
Reduxio Systems, a next generation hybrid innovator, announced today that it secured $9M in a Series A round led by two of Israel's leading venture capitalist firms, JVP and Carmel Ventures.
Storage industry veterans Mark Weiner, Nir Peleg and Amnon Strasser founded Reduxio in 2012 after recognizing the challenges of integrating new key functionality and hardware advances into legacy storage systems.
"Designing a system from the ground up allowed us to break free of all the limitations and to fully take advantage of new network, server and drive architectures," said Mark Weiner, CEO of Reduxio. "In this way, we can deliver revolutionary functionality to match the particular needs in cloud, virtual machine and structured data environments."
"We are seeing a paradigm shift in storage, as SSDs and 10GbE adoption rates increase. Reduxio's novel approach is a game changer," Said Ori Bendori, General Partner at Carmel Ventures.
"We're excited by the hybrid space and how Reduxio's technology accelerates flash adoption in the enterprise," said Kobi Rozengarten, General Partner at JVP and a veteran of the flash memory industry, "We invested in Reduxio early and used our incubator to partner from their founding."
Reduxio's cost-effective hybrid provides an alternative to the expensive all flash arrays. Mainstream vendors have been struggling to integrate SSDs into their legacy architectures and to have different key features work together. The fast growing storage needs of cloud and corporate cloud environments that are virtualized and application dependent are demanding more innovative solutions. Reduxio's disruptive storage technologies provide a much needed solution to these challenges.
"Reduxio was born from the idea that the only way to truly introduce new and innovative functionality in conjunction with the newest hardware required a completely new base-architecture designed from the ground up - taking advantage of the latest advances," said Reduxio CEO Weiner. "For the past decade, spinning disks have not kept up with the performance advances in the rest of the storage architecture. New functionality added to older systems is not always compatible as one layer of complexity is added onto the next. Reduxio is providing answers to these challenges."
About Reduxio Systems
Reduxio's hybrid arrays are specifically designed for the particular needs of today's storage environments focusing on cloud, virtual machines and structured data sets. ReduxOS operating system and next generation smart placement algorithms will reset price/performance and functionality requirements moving forward.
Based in the JVP Media Quarter in Jerusalem, JVP (http://www.jvpvc.com) is one of Israel's largest and most active venture capital funds with over $900 million raised to date. Founded in 1993, JVP has helped build over 90 companies and has orchestrated 25 of the largest exits in the region with 14 industry sales and 11 IPOs on NASDAQ. Established in 1993 by JVP Founder and Chairman Erel Margalit, JVP's General Partners are Gadi Tirosh and Kobi Rozengarten.
About Carmel Ventures
With over $600 million currently under management, many successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel's top-tier venture capital funds. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company-building fund in Israel. Carmel, headquartered in Herzliya, is a member of the Viola Group, Israel's premier technology focused Private Equity group with $2B under management. For more information, please visit http://www.carmelventures.com.
Mark Weiner, CEO Reduxio
SOURCE Reduxio Systems