Parascale, a provider of cloud storage solutions for rich media content in traffic-intensive applications, today announced that it has closed an $11.37 million Series A financing round led by venture capital firms Charles River Ventures and Menlo Ventures.
Parascale plans to use the funding for product development and marketing initiatives in preparation for the launch of Parascale Cloud Storage (PCS), an application that aggregates disk storage on multiple standard Linux servers providing one highly scalable storage cloud, accessible via standard file access protocols.
According to the news release, Parascale has developed a new class of storage solutions designed to support the wave of content-intensive applications, including video-on-demand, digital document archiving, scientific data analysis, video surveillance and medical image remote diagnosis among others. The company’s PCS software is patented technology which automatically and transparently migrates and replicates files among storage nodes to balance and optimize performance – without interruption in client access.
“With Charles River Ventures and Menlo Ventures, we have the two premier investors in the storage space supporting our company,” said Sajai Krishnan, Parascale CEO. “In the very specific technology domain where Parascale operates , clustered storage, Charles River’s success with EqualLogic has been the best clustered SAN-storage exit. Menlo’s investment in Spinnaker Networks has been arguably the best clustered NAS-storage exit. It is an honor to have Bruce Sachs of Charles River and John Jarve of Menlo on our board. Their voting with their wallets in leading the Series A round, is an affirmation of Parascale’s team, business model and opportunity.”
[Source: ByteandSwitch]