Cambridge-based Infinio Systems announced a new round of funding this morning.
The $10 million Series A investment brings the company’s total investments to
date to $12 million. The latest round of funding was led by Highland Capital
Partners and Bessemer Venture
SilverLining Systems, aims to improve the performance of data storage software.
Launching later this year, Infinio will use the new funding for marketing,
product development, and a series of key new hires.
Originally started by
Vishal Misra, a tenured Columbia computer science professor, and his fellow
researchers, Infinio has Arun Agarwal, formerly of Endeca, as a Co-Founder & CEO. As part of the latest round of funding, Highland’s Sean Dalton and
Bessemer’s Felda Hardymon will join Infinio’s board of directors.
With offices in both
Cambridge and New York, the company is positioned to make an enormous impact in
the world of virtual storage. Currently, one of the major issues that hamper
storage management facilities is the problematic performance of current
hardware and software. “Storage systems represent a huge portion of IT budgets,
and too often, data center managers find themselves buying more hardware in an
effort to improve performance, even when they have plenty of storage space.”
Agarwal said in a press release. “We’re building a software product that will help
solve that problem.”
The latest round of funding
makes Highland and Bessemer two of the largest investors in a pool that
includes earlier funding from Lightspeed Venture Partners, Cambridge’s Founder Collective, the NYC Seed Fund,
as well as a group of angel investors.