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Western Digital leads $20m Series D for data storage startup Avere Systems

11 Jul 2014

dataVenture investor Western Digital Capital has led a $20m Series D round for enterprise storage for the hybrid cloud provider Avere Systems.

The round, which brought the company’s fundraising total to $72m, was also backed by existing investors Lightspeed Venture Partners, Menlo Ventures, Norwest Venture Partners and Tenaya Capital.

Avere will use the funds to accelerate sales, marketing and support the development of its hybrid cloud storage technology.

The company said that 99 per cent of enterprises will operate increasingly in a hybrid IT storage environment for many years to come, which means that “no single storage technology will win, and both on-premises and cloud storage will be required to achieve cost and performance goals.”

Menlo managing partner John Jarve said, “Now that the company has proven to deliver NAS-quality performance in a hybrid cloud environment, we expect mainstream enterprises to adopt this new technology at a rapid rate over the next 18-24 months.”

Last September Western Digital bought computer storage company Virident Systems in a $645m deal.

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