StorageOS, London-based cloud-native storage management, has secured $10 million (approx £7.1 million) funding in a Series B round led by Downing Ventures.
Other existing investors including Bain Capital Ventures, Uncorrelated Ventures, MMC Ventures, also participated in the round alongside new investor Chestnut Street Ventures. This funding round brings total funding to $20 million (approx £14.2 million).
“Securing a further significant round of funding is an important step in the development of the business and a huge vote of confidence in our team, technology, and achievements to date,” said Alex Chircop, Founder and CEO, StorageOS. “Working alongside a group of committed investors, including those who have supported us during our previous funding round, has been key to the growth of the business and we’re looking forward to building on our strategy worldwide.”
How will the funding be used?
The funding will be used to invest in its go-to-market strategy and scale its sales and customer-facing technology teams to build its customer base and revenue.
Founded by Alex Chircop, Chris Brandon, and Simon Croome in 2015, StorageOS is a software-defined cloud-native storage platform delivering persistent storage for Kubernetes.
To reiterate, Kubernetes (K8s) is an open-source system to deploy, scale, and manage containerised applications anywhere. By delivering persistent storage to applications in container environments, users can achieve all the business benefits of containers and orchestrators.
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Notably, StorageOS was created by four storage professionals from the financial services industry who were frustrated with storage industry problems.
Built from ground-up with no legacy restrictions
StorageOS is built from the ground-up with no legacy restrictions to give developers working with cloud-native workloads total control of storage with no compromise on performance, availability, or security.
We are delighted to announce our investment in StorageOS, a company that is uniquely positioned as a global leader in cloud-native storage management. As modern technology companies are transitioning to containerised architectures and stateful containers are proliferating, we see significant growth of demand for new and improved storage management solutions,” said Jack Eadie, Investment Director at Downing Ventures.
Bill Lehmann, Partner, Bain Capital Ventures, commented: “We have backed StorageOS since the seed stage and are thrilled to be investing more in this round. As enterprise teams everywhere adopt Kubernetes, there needs to be a vendor that allows them to run stateful applications. We believe StorageOS has built the platform that these teams will standardise on and are excited to see the company grow with the additional funding.”
“We’re excited to be supporting Alex and the StorageOS team again. The business has made excellent progress since we first invested, and across the market adoption of containers and Kubernetes has skyrocketed,” said Simon Menashy, Partner, MMC Ventures. “We invest across the cloud infrastructure stack and software-defined storage is a key missing piece of the puzzle. It’s clear that StorageOS has the leading solution in the market.”