SUMMARY
PrimaryIO Will Use The Investment Raised From Seed Funding To Expedite Its Product Development Efforts
Storage management startup PrimaryIO has raised $5.6 Mn Seed funding in an investment round from Accel, Exfinity Ventures and Partech Ventures. The startup provides software solutions to enterprises that are embracing the public cloud.
Talking about the investment Dinesh Katiyar from Accel, remarked, “Cloud computing is disrupting traditional IT at a very rapid pace and creating high growth opportunities. PrimaryIO, with its domain expertise, is well-positioned to benefit from this market trend and we are excited to work with the team.”
PrimaryIO was founded in 2012 by Lorenzo Salhi, who is the Chief Revenue Officer for the company now. It has developed breakthrough software technology for storage management for virtualised data centres. The Silicon Valley-headquartered company has research centres in Pune. It provides software solutions to increase application performance by accelerating I/O throughput via intelligent data service policies.
The startup will use the newly raised funds to expedite its product development efforts. The investment will also help to accelerate product development to bring innovation to the enterprise IT customers.
Chinnu Senthilkumar, Partner, Exfinity Venture Partners said, “As traditional enterprises and financial institutions look to embrace cloud computing, there is a need for a special computing framework for cloud transformation. PrimaryIO’s technology is designed to work with existing enterprises’ IT infrastructure without compromising performance, security and protocol while allowing them to leverage the cloud computing infrastructure.”
Primary IO products enable virtualised applications running under VMware environments to run faster and more cost effectively by eliminating storage bottlenecks and gaining control of valuable data across the private and public cloud.
Talking about the product, Kumar Ganapathy, CEO of PrimaryIO said, “Drawing on our deep background in storage and cluster file systems, we are uniquely positioned to help our customers overcome performance & capacity issues so they can truly take advantage of cloud-computing technologies.”
Earlier in June 2017, it was reported that Alibaba Cloud, the cloud computing arm of Chinese online-shopping mammoth Alibaba Group will soon establish two new data centres in Mumbai, India and Jakarta, Indonesia. Other major competitors of PrimaryIO include Microsoft’s Azure, Amazon’s AWS, among others. With the recent round of Seed funding, PrimaryIO will look to improve its storage management application performance for enterprises that are embracing the public cloud.
