Deals

Avere Systems raises $15M to build cheaper, more powerful enterprise storage

As tech companies wrestle with ever-increasing amounts of data, a startup called Avere Systems is preparing to launch what investors are describing as a “new class” of storage technology. The Pittsburgh startup (yes, Pittsburgh) just raised $15 million in a first round of funding.

Avere plans to announce its first products in October, so it’s still a little coy about the details. Still, we know it’s going to be entering the network-attached storage (NAS) market, i.e., storage devices attached to a computer network. It claims that through innovations like the use of different storage media, its technology will be cheaper and more powerful than storage products already on the market. I asked Norwest Venture Partners general partner Matthew Howard, who sits on Avere’s board, about what the company is doing differently. He wrote:

The dynamic nature of Avere’s products, combined with the team’s technical innovations regarding the use of multiple media types, will drive up the current performance of storage networks while significantly driving down the cost of existing architectures. While we think Avere’s technology is absolutely unique, we believe what really separates the company from the pack is the business value in providing solutions that enable high performance and high efficiency to the storage network simultaneously.

Avere’s founding team — chief executive Ron Bianchini, Chief Technology Officer Michael Kazar, and Vice President of Engineering Daniel Nydick — already has a track record in the storage industry. They were the founders of Spinnaker Networks, which NetApp acquired for $300 million. Howard was also an investor in Spinnaker.

The funding was led by Norwest and Menlo Ventures.

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