Storwize, a San Jose, Calif. company that makes data compression products for enterprise use, has taken a $19 million third round of funding led by Sequoia Capital, and joined by previous investors Bessemer Venture Partners and Lehman Brothers Venture Partners.
Storwize’s product reduces the volume of stored data while keeping it accessible and preventing degradation, according to the company. It cuts down on the amount of physical space required for data storage, and claims to also lower the power requirements.
The company’s previous round of $9 million took place less than a year ago.
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