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|Exablox Adds Toshiba as a Strategic Investor Extending its Series C Funding Round|
|Posted: Mon May 18, 2015 01:50:52 PM|
SUNNYVALE, Calif. - May 18, 2015 - Exablox, the award winning company re-imagining storage, today announced it has added $7 million to its Series C round of funding bringing the total to $23 million. As part of the round, Toshiba America Electronic Components, Inc. (TAEC) joins Dell Ventures as a strategic investor. TAEC participated in the round due to Exablox's ability to quickly support new drive technologies that meet the rapidly growing demands of storing unstructured data. Exablox has now received $45.5 million in total funding.
"We are pleased to continue this relationship with Exablox to address the needs of customers who are targeting the emerging scale-out object-based storage market. We believe that enabling effective data management to leverage object-based storage technology and taking it to the enterprise market is one of the next business opportunities. Toshiba's investment in Exablox is in line with Toshiba's commitment to leading innovation and establishing relationships in growing market segments," said George Bouchaya, chief technology officer, vice president at Toshiba America Electronic Components, Inc.
"Toshiba's investment in Exablox validates our compelling solution addressing accelerating unstructured data growth. With inflexible scale-up legacy storage solutions unable to respond to rapid changes in businesses storage requirements, customers are looking for new answers." Said Douglas Brockett, CEO of Exablox. "With instant capacity expansion and industry-leading economics Exablox offers the storage of the future today."