Iguaz.io Raised $15 Million to fund a Disrupt Big Data Storage
25 November, 2015
The company works in stealth mode and develops "innovative data management and storage solutions for Big Data, IoT and cloud applications"
The company works in stealth mode and develops “innovative data management and storage solutions for Big Data, IoT and cloud applications”
The secretive startup from Herzlya, Israel, Iguaz.io, today announced a $15 million Series A funding round. Led by Magma Venture Partners, the funding includes additional investments from JVP and large strategic investors. The company works in stealth mode and gives very little information about its product. It discloses only that it develops “innovative data management and storage solutions for Big Data, IoT and cloud applications.”
The iguaz.io founding team is comprised of a group of former executives from successful technology companies such as XtremIO (acquired by EMC), XIV (acquired by IBM), Mellanox, Voltaire (acquired by Mellanox) and Radvision (acquired by Avaya).
Iguaz.io plans to use the funding to expand its team of experts in the spaces of Big Data, storage, security and networking. According to IDC, the market for Big Data will surpass $41 billion by 2018, growing six times faster than the overall IT market.
“Enterprise customers have been sharing their pain points and challenges with us as they try to adopt Big Data and predictive analytics for their business,” said Asaf Somekh, co-founder and CEO of iguaz.io. “We designed our solution from the ground up to address these challenges.”
Yaron Haviv, co-founder and CTO of the company, said that the IT industry is undergoing major shifts with the spread of cloud and new data consumption requirements. “We’re leveraging state-of-the-art hardware with our novel software architecture enabling customers to take a leap forward in their data-driven businesses.”