Technology innovator Pliops announced it has closed a $65 million oversubscribed funding round to deliver game-changing value for enterprise and cloud customers.
The funding round was led by Koch Disruptive Technologies (KDT). All current investors, including State of Mind Ventures (SOMV), Viola Ventures, Intel Capital, SoftBank Ventures Asia, Expon Capital, Western Digital, Xilinx, and Sweetwood Capital participated, with NVIDIA increasing its share.
The investment will be used to bring the new levels of scale, speed, and cost effectiveness promised by Pliops’ storage processor to more customers in more ways.
A hardware-enabled storage engine deployed in a PCIe card form factor or as a cloud service, the storage processor unlocks the full potential of SSD storage by exponentially improving cost, performance, and endurance.
Through its storage processor, Pliops substantially accelerates the processing of data-intensive applications in data centers, according to the vendor.
On a mission to revolutionize the way data and storage are managed in the data center, the company plans to scale its technology into new use cases, expand its product line, and double the size of the company by the end of 2021.
Pliops has expanded its executive team globally and is ramping up its resources as it moves into its next stage: to deliver broad availability of its storage processor and to expand value for their impressive list of existing customers.
Of key importance to Pliops is enabling more customers by delivering their solution in multiple forms. Whether on premises, in the cloud, integrated with customer products, or built into an ASIC, Pliops is engaged with leaders in the cloud service provider and broader enterprise market segments seeking to accelerate a wide range of data-intensive workloads.
While fundamental issues like efficient data structures and dynamic capacity management have been studied for years, Pliops’ novel combined hardware and software approach has motivated leaders in data store and processing to invest in the company.
“With data storage—and the computational requirements for processing that data—growing at an exponential rate, status quo approaches fall short,” said Uri Beitler, founder and CEO of Pliops. “Our solution takes a new approach that enables unprecedented scalability in data centers. Additionally, to have a partner as important as NVIDIA increase their investment in Pliops is a huge vote of confidence. We are committed to growing our technology to its maximum potential, and look forward to strategic, long-term partnerships with our investors and customers.”
For more information about this news, visit https://pliops.com/.