Cold Data Storage Company SageCloud Raises $10 Million
SageCloud is an enterprise-scale Cold Data Storage company that has raised $10 million in Series B funding. SageCloud is run by the founders of Carbonite, Jeff Flowers and David Friend. Flowers is the CEO of SageCloud and Friend serves as the chairman. Friend also currently works as the CEO of Carbonite. This round of funding was led by Braemar Energy Ventures and included participation from Matrix Partners.
SageCloud is known for addressing the issue of “cold data.” Cold data is content that is “written once and infrequently accessed.” This data accounts for as much as 80% of data growth over the coming decade. An example of cold data could be Facebook photos that was uploaded 3 years ago. You may still look at the pictures from just time-to-time. Another example is a YouTube video that was uploaded 5 years ago that has maybe only 1,000 hits total.
SageCloud’s goal is to dramatically lower the cost of storing data while offering energy efficiency solutions. Considering the success that SageCloud’s co-founders had in the past, this is a startup that should be worth watching.