SANTA CLARA, Calif.,
July 19, 2011 /PRNewswire/ -- NVELO
Inc., a pioneer in storage software, and makers of Dataplex™
storage caching software, today announced that it has closed
$6.6 million dollars in Series A
financing led by Silicon Valley-based venture fund SKS Capital. The
capital will support the expansion of the Dataplex product line for
consumer computing and the launch of a new Dataplex storage product
designed specifically for server storage caching.
"Our customers want affordable SSD performance with HDD
capacity," said Jiurong Cheng, a Founder and CEO of NVELO. "That's
exactly what we are delivering with our Dataplex software, which we
are rolling out this quarter to select PC OEMs and SSD vendors. Now
with this additional funding, we can ramp our R&D effort to
begin targeting servers and enterprise-class storage."
"The NVELO team has a strong track record of product innovation
and overall business success," said Sanjay
Srivastava, general partner at SKS Capital and senior vice
president, research and development, SoC Realization Group at
Cadence Design Systems, Inc. "NVELO is committed to providing the
industry with much needed solutions that address the cost and
performance of computing storage, and we believe that this new
capital will enable NVELO to accelerate the development of new and
disruptive products for both the client and server markets."
Cadence Design Systems, Inc. (NASDAQ: CDNS) also holds equity
investment in NVELO.
"Cadence continues to invest in companies that bring
differentiated, innovative solutions to fast growing markets," said
Nimish Modi, senior vice president,
research and development, System & Software Realization Group
at Cadence. "We see NVELO as a key player in bringing SSD
technology to mainstream computing through its caching software
products and scaling the core technology to address enterprise
storage."
The Dataplex consumer product won the "Visionary Products Award
for Mobile Consumer Electronics Storage" at the 2011 Storage
Visions Conference for addressing the need for SSD performance with
HDD capacity in PC and Notebook computing. Compatible with any
desktop or notebook computer, Dataplex uses a low-capacity SSD as
cache for the traditional HDD found in consumer computing,
delivering SSD performance with HDD capacity, at incremental cost
over HDDs. Dataplex continuously monitors system data traffic and
dynamically adapts to user behavior for optimal placement of data
in either HDD storage or SSD cache.
About Dataplex
Dataplex is a host-based software product that increases the
overall computing performance by using a small SSD as a
high-performance cache for an existing HDD. Dataplex uses advanced
adaptive caching algorithms to intelligently monitor and manage
user data to deliver SSD level performance across the entire
capacity of the HDD. The client or consumer version of Dataplex is
schedule for release in 3Q2011; the related products for server and
enterprise are in development.
About NVELO, Inc.
NVELO, Inc. is a pioneer in innovative storage software,
bringing new intelligence into storage subsystems to break the I/O
bottleneck in today's computing systems. Formed as a spin-off
company during the acquisition of Denali Software by Cadence Design
Systems, NVELO employs world-class engineering and management teams
for R&D on its flagship product "Dataplex", which is now in the
process of being introduced to the market through Computer OEM's,
HDD and SSD vendors. NVELO is a privately held company with company
headquarters in Santa Clara
California. For more information, visit http://www.nvelo.com
.
NVELO, Dataplex and other NVELO products and services mentioned
herein as well as their respective logos are trademarks or
registered trademarks of NVELO, Inc. All other product and service
names mentioned are the trademarks of their respective
companies.
Contact:
NVELO, Inc.
Kevin Silver
kevin@nvelo.com
(650) 283-3488
SOURCE NVELO Inc.