Iguaz.io, a provider of innovative data management and storage solutions for Big Data, IoT and cloud applications 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 iguaz.io founding team is comprised of a group of former executives from successful technology companies in the fields of storage, cloud computing, high-speed networking, analytics and cyber-security. These companies include XtremIO (acquired by EMC), XIV (acquired by IBM), Mellanox (NASDAQ: MLNX), Voltaire (NASDAQ: VOLT, acquired by Mellanox) and Radvision (acquired by Avaya).
Over the past two decades, the team has enabled enterprise customers to evolve their data centers and has helped leading cloud operators design and deploy their hyper-scale data centers. Iguaz.io will use the funding to continue growing its team of experts in the spaces of Big Data, storage, security and networking (see www.iguaz.io/careers).
According to IDC, the market for Big Data will surpass $41 billion by 2018, growing six times faster than the overall IT market. “Big Data and cloud computing are creating tectonic shifts in the market, setting the stage for market disruptions,” said Yahal Zilka, Managing Partner at Magma Venture Partners. “The iguaz.io team, with its innovative approach, is well positioned to disrupt the market.”
“Iguaz.io has attracted top talent with diverse, multidisciplinary skills and experience,” said Kobi Rozengarten, Managing Partner at Jerusalem Venture Partners (JVP). “The team, with its impressive record of innovation and execution, has what it takes to deliver their ground-breaking solution.”
“Enterprise customers have been sharing their pain points and challenges with us as they try to adopt Big Data and predictive analytics in their business,” said Asaf Somekh, co-founder and CEO of iguaz.io. “We designed our solution from the ground up to address these challenges and allow our customers to focus on their applications and business.”
“The IT industry is undergoing major shifts with the spread of cloud technologies on the one hand and new data consumption requirements on the other,” said Yaron Haviv, co-founder and CTO of iguaz.io. “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.”