Cloud-Native Storage Management Company StorageOS Raises $10 Million

By Annie Baker ● Mar 11, 2021
  • StorageOS — a leader in cloud-native storage management — announced recently that it raised $10 million in Series B funding.

StorageOS — a leader in cloud-native storage management — announced recently that it raised $10 million in Series B funding. This round of funding was led by Downing Ventures. And existing investors Bain Capital Ventures, Uncorrelated Ventures, and MMC Ventures also joined the round along with new investor Chestnut Street Ventures. This funding round brings the total raised by the company to $20 million.

StorageOS is known for giving customers total control of their storage environment, whether on-premises or in the cloud. And by delivering persistent storage to applications in container environments, users can achieve all the business benefits of containers and orchestrators. As a fully software defined storage company, StorageOS offers an enterprise class and highly performant solution with features for today’s digital business.

Going forward, the company is going to invest further in its go-to-market strategy and scale its sales and customer facing technology teams for building its customer base and revenue.

KEY QUOTES:

“Securing a further significant round of funding is an important step in the development of the business and a huge vote of confidence in our team, technology and achievements to date. Working alongside a group of committed investors, including those who have supported us during our previous funding round, has been key to the growth of the business and we’re looking forward to building on our strategy worldwide.”

— Alex Chircop, Founder and CEO, StorageOS

“We are delighted to announce our investment in StorageOS, a company that is uniquely positioned as a global leader in cloud native storage management. As modern technology companies are transitioning to containerised architectures and stateful containers are proliferating, we see significant growth of demand for new and improved storage management solutions. We focus on a thematic investing strategy within the Enterprise and DeepTech sectors to find emerging global leaders with top tier management teams who are addressing large global multi-billion-dollar challenges. StorageOS is exemplary on every front and we are excited to be moving forward with Alex and his team.”

— Jack Eadie, Investment Director at Downing Ventures

“Storage subsystems need to be containerized – it’s the future – but not if it compromises performance. That was the real test: could the StorageOS container-based storage engine run and support very high performance workloads such as transactional databases? Once I saw it in action, delivering stunning results, and consistently blowing away all the competition in independent benchmarks, I knew it was a winner. I’m excited to continue investing in the company, following my investments in both their prior rounds.”

— Salil Deshpande, General Partner at Uncorrelated Ventures

“We have backed StorageOS since the seed stage and are thrilled to be investing more in this round. As enterprise teams everywhere adopt Kubernetes, there needs to be a vendor that allows them to run stateful applications. We believe StorageOS has built the platform that these teams will standardize on and are excited to see the company grow with the additional funding.”

— Bill Lehmann, Partner, Bain Capital Ventures

“We’re excited to be supporting Alex and the StorageOS team again. The business has made excellent progress since we first invested, and across the market adoption of containers and Kubernetes has skyrocketed. We invest across the cloud infrastructure stack and software-defined storage is a key missing piece of the puzzle. It’s clear that StorageOS has the leading solution in the market.”

— Simon Menashy, Partner, MMC Ventures

“The operational complexities of cloud-native workflows require advanced infrastructure. We believe that StorageOS’ software-defined storage approach represents an effective and scalable solution to meet the need created by the continuing growth of container deployments.”

— Jonathan Meltzer, senior principal at Chestnut Street Ventures