Computer harwdare manufacturer Western Digital's investment unit led the cloud storage company's series D round, which increased its total funding to $72m.
US-based cloud storage technology company Avere Systems secured $20m yesterday in a series D round led by Western Digital Capital, the corporate venturing arm of computing hardware producer Western Digital.
The round also featured existing backers Norwest Venture Partners, a venture capital firm for which financial services firm Wells Fargo is the sole limited partner, Lightspeed Venture Partners, Menlo Ventures and Tenaya Capital. Western Digital participated as a new investor.
Avere will invest the funds in ramping up its sales and marketing, and further developing its hybrid cloud storage products. It has now raised $72m since it was founded in 2008.
Ron Bianchini, president and CEO of Avere Systems, said: “With this series D funding round, we continue to scale the company so that we can provide the best solutions to customers embarking on their hybrid cloud path.”
