Storewiz raises $9M for online storage compression appliance

June 6, 2007 | Matt Marshall

Storewiz, San Jose, Calif. provider of online storage
compression technology, said it has raised $9 million in a second round of funding from venture capital firm Sequoia Capital.

The company says it has had high demand from companies seeking data compression to make their network infrastructure more efficient.The company’s appliances can read the compressed data without having to decompress it.

The company’s appliances were introduced in late 2005, and allow companies to use fewer hardware devices and less power, the company says. They are sold by 30 reseller and OEM partners globally, it said.

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Tags: deal

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.