SAN JOSE, Calif. -- Ocarina Networks today announced that it has closed a $20 million Series B round of financing led by JAFCO Ventures with significant participation from Series A investors Kleiner Perkins Caufield & Byers and Highland Capital Partners. As part of this transaction, Joe Horowitz, a general partner of JAFCO Ventures, will join the Ocarina Board of Directors.
Ocarina Networks provides the industrys first solution to leverage patented content-aware compression and object deduplication technologies to reduce the space taken by online file data by up to 90%. As a result, Ocarina Networks can drastically reduce capital and operational expenses for businesses faced with soaring storage costs.
This financing from some of the industrys most respected investors is a testament to the large market for online storage optimization and the great momentum and leadership we have established, said Ocarina Networks CEO Murli Thirumale. Online storage optimization is one of the most important developments in the storage industry, and is fast becoming a must have for anyone with growing storage needs and a desire to contain costs.
Addressing a significant painpoint with high ROI, and strong market demand
With its innovative technology, the company has seen strong demand driving company growth. Ocarina has also joined forces with a majority of the industrys leading primary storage vendors to integrate or co-market its solutions. These Ocarina-enabled solutions seamlessly snap into existing storage systems and allow customers to store the same amount of data on significantly fewer disks, freeing up space for new files, and reducing capital expenditures without compromising capacity or performance.