Nyriad Raises US$28 Million to Fund Go-To-Market Efforts and Continued Development for Storage Solutions Based on a New Architecture

Will redefine how data is stored

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Nov 14, 2021, 18:02 ET

SAN JOSE, Calif., Nov. 14, 2021 /PRNewswire/ -- Nyriad Inc. (Nyriad) announced today it has raised an additional US$28 million of funding, primarily from existing investors. The funds will be used to accelerate the company's global go-to-market and engineering efforts for its reimagined storage solution based on a new architecture that redefines how data is stored and managed.

"Nyriad will deliver a breakthrough data storage solution," said Guy Haddleton, Nyriad Chairman of the Board and lead investor. "Equally important, the company's vision is backed up by a seasoned executive leadership team, exceptional engineering talent, and a strategy that focuses on delivering business value for customers. That this round of funding is coming almost entirely from existing investors is a strong statement in our confidence in Nyriad's ability to execute and succeed in the marketplace."

Nyriad's new architecture combines the power of GPUs and CPUs to deliver an unprecedented combination of performance, resilience, and efficiency, enabling massive amounts of data and multiple data types to be managed in a single storage system that is simple to deploy, operate, and scale in a cost-effective way.

"Storage solutions must empower businesses to grow, adapt, and stay competitive in a data-driven world. Nyriad is on a fast track to provide businesses with these breakthrough capabilities," said Herb Hunt, Nyriad Chief Executive Officer. "We're reimagining storage with an architecture that delivers an entirely new way to control and manage storage devices at scale. This new round of funding ensures that solutions based on our new architecture will be available to customers early in 2022."

In October 2020, the company completed a financing of $8.3 million to fund development and prepare its entry into the U.S. market. In September 2021, Nyriad announced it had relocated its global headquarters to the U.S. from New Zealand. The recently closed funding of $28.0 million will also be used to expand the company's capabilities and resources in the U.S. and worldwide.

About Nyriad
Nyriad is developing the industry's first storage solutions based on a new architecture that redefines how data is stored. The architecture combines the power of GPUs and CPUs to deliver an unprecedented combination of performance, resilience, and efficiency, enabling massive amounts of data and multiple data types to be managed in a single storage system that is simple to deploy, operate, scale, and maintain. Headquartered in Silicon Valley, Nyriad is building a new storage architecture from the ground up that empowers businesses to grow, adapt, and stay competitive in a data-driven world. For more information, visit us on the web at www.nyriad.io.

SOURCE Nyriad Inc.