Storwize takes $19M for data compression
Storwize, a San Jose, Calif. company that makes data compression products for enterprise use, has taken a $19 million third round of funding led by Sequoia Capital, and joined by previous investors Bessemer Venture Partners and Lehman Brothers Venture Partners.
Storwize’s product reduces the volume of stored data while keeping it accessible and preventing degradation, according to the company. It cuts down on the amount of physical space required for data storage, and claims to also lower the power requirements.
The company’s previous round of $9 million took place less than a year ago.
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Tags: co:storwize, deal, inv:Bessemer-Venture-Partners, inv:Lehman-Brothers-Venture-Partners, inv:Sequoia-Capital
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.