Avere Systems Raises Funding for Storage Networking Business

As reported on Venture Beat's Deals & More, Pittsburgh, Pa.-based Avere Systems has raised $17 million in a second round of funding for its network-attached storage business. The report states that Avere will use the money to expand production and distribution of its FXT series of storage appliances that cut the cost and improve the performance of storage in enterprises.

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"It seems we have a case of disruptors disrupting the disruptors. NetApp itself was disruptive years ago as it began to attach storage devices directly to networks. That disrupted the older tape and disk-based devices that were much slower and storing data and were attached to just a single machine. Now Avere is disrupting the older storage companies. Avere’s storage systems have both chip-based storage and traditional hard disks to optimize performance, regardless of the type of work being done. The most frequently accessed data can be accessed the fastest, said Matt Howard, general partner at Norwest.

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