Storwize Grabs $19M

SAN JOSE, Calif. -- Storwize Inc., the leader in primary storage data compression solutions, today announced it has successfully closed $19 million in funding from new investors, venture capital firms, Bessemer Venture Partners and Lehman Brothers Venture Partners, as well as the Series B investment round leader, Sequoia Capital. The Series C funding will accelerate Storwizes efforts to expand its sales and support organizations, as well as its product management resources, to meet the soaring demand for the company’s primary data compression solutions.

The company’s innovative primary data compression solutions are successfully deployed to customers worldwide including Fortune 500 companies, international banks and other large enterprises. With this investment, Storwize will significantly increase its sales force coverage in response to worldwide growing customer demand for Storwize solutions following an upswing of recognition and accolades in the industry.

“It is an honor to be supported by three venture firms who have such a level of skills and proven experience. This third round of financing is further validation of the market recognition we are seeing to our leadership in compression solutions for primary storage. It will help extend our capabilities even further in delivering technology that continues to revolutionize storage economics as well as enable us to realize high volume sales,” said Gal Naor, CEO of Storwize.

Storwize Inc.