VC-backed hybrid storage company NexGen sells for $114m

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Venture capital-backed hybrid storage company NexGen Storage has been acquired by NYSE-listed Fusion-io for $114m.

In 2011 the company closed a $10m Series B round with backing from first-time investor Next World Capital alongside Access Venture Partners and Grotech Ventures, which had led the company’s $2m Series A round in February of that year.

NexGen’s ioControl software enables IT teams to control and prioritise acceleration for mission critical, business critical and non-critical applications.

Fusion-IO has previously bought IOTurbine from Merus Capital in 2011.

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