Velostrata Closes $17.5 Million Series B Funding to Expand Vision for Cloud Workload Mobility
Intel Capital leads round as strategic investor, joining existing investors Norwest Venture Partners and 83 North
SAN MATEO, CA (August 3, 2016)—Velostrata, the leader in cloud workload mobility, today announced $17.5M in Series B funding led by strategic investor Intel Capital, with participation from existing investors Norwest Venture Partners and 83 North. Velostrata software enables customers to adopt a hybrid cloud strategy that incorporates the best of both public and private clouds. This latest funding will be used to accelerate growth, particularly within the mid-to-large enterprise market.
The company today also announced the general availability of Velostrata 2.0, which provides a non-disruptive and low-risk approach for moving applications and their data to the cloud, both for short-term use cases like development and testing, as well as for long-term migration.
“As enterprises race to keep pace with the demands of the modern and rapidly changing business, IT’s ability to leverage the trust, control and reliability of private cloud along with the simplicity, affordability and flexibility of the public cloud is increasingly important,” said Issy Ben-Shaul, CEO and co-founder of Velostrata. “That’s why the attention and demand for Velostrata has increased dramatically in the last year. The flexibility to move data-rich workloads from legacy environments to both private and public cloud is a challenge for most enterprise IT departments, and Velostrata is mitigating the risks, downtime and complexity once associated. We’re delighted to welcome Intel Capital as a strategic investor, as well as Norwest Venture and 83 North as repeat investors, as we continue to eliminate boundaries around hybrid cloud computing.”
Unlike other cloud migration and hybrid cloud solutions, Velostrata’s patent-pending technology uniquely decouples compute from storage, making it possible to move compute to the cloud in minutes – while controlling and automating where storage resides: whether in a private cloud, public or a combination of both. With Velostrata’s agentless solution, there is no need to modify workload images or manage lengthy replications and complex cutover processes. Companies deploy Velostrata to automate, accelerate and de-risk their use of the cloud. Applications can be migrated to and from the public cloud in minutes, regardless of the size of the image or data virtual disks, with a simple cutover and consistency.
“Enterprises require a hybrid cloud strategy as the new foundation for business success,” said Patrick Buddenbaum, general manager of Enterprise Cloud Solutions in Intel’s Data Center Group. “Velostrata’s technology helps provide portability and seamless application management across legacy, private and public cloud resources, enabling IT to optimize at any time their TCO, growth and compliance within their hybrid cloud environment.”
“Storage has been the primary challenge when migrating applications to the public cloud,” said Dror Nahumi, general partner, Norwest Venture Partners. “We are thrilled to see the progress Velostrata has made helping customers overcome this.”
“Velostrata continues to innovate and eliminate the migration risks once associated with enterprise adoption of hybrid and public cloud computing,” said Yoram Snir, partner at 83 North. “We are pleased to continue our support of their consistent success and dedication.”
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Velostrata is the cloud workload mobility company. With Velostrata software, moving production applications to the public cloud becomes simple, fast, cost–effective, and low risk. Velostrata’s patent-pending technology decouples compute from storage and makes it possible to move workloads to and between clouds without re-writing applications, modifying images, degrading application performance, or changing management processes—all at the click of a button. With Velostrata, organizations can move production workloads to the public cloud in minutes, while controlling and automating where data resides – on premises, in the cloud, or a combination of both. Velostrata is backed by Intel Capital, Norwest Venture Partners and 83 North and is headquartered in San Mateo, California, with research and development in Israel. For more information, visit http://www.velostrata.com.
About Intel Capital
Intel Capital, Intel’s strategic investment and M&A organization, backs innovative startups targeting computing and smart devices, cloud, datacenter, security, the Internet of Things, wearable and robotic technologies and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.7 billion in 1,457 companies in 57 countries, and 605 portfolio companies have gone public or been acquired. Through its business development programs, Intel Capital curates thousands of introductions each year between its portfolio executives and Intel’s customers and partners in the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.