Netezza Corp., which makes a data warehousing appliance, has scored a fourth round of funding worth $15 million, with potentially $5 million available to the company if required (see Netezza Grabs $15M ). Netezza has garnered more than $68 million in funding to date.
While not a pure storage networking play, Framingham, Mass.-based Netezza's combination of storage and database technology offloads tasks often done by storage gear (see Netezza Boosts Data Appliance and Netezza Unveils New System).
The solution is apparently catching on: According to CFO Patrick Scannell, 17 customers have purchased more than 40 systems from Netezza, which has been shipping its gear for two years, though it was founded in 2000.
Scannell says the money will be used for continued expansion of its marketing and sales, particularly internationally, with a focus on Europe and the Asia/Pacific region. The company has 140 employees and will likely have more in short order. Also, within the next six to 12 months, the firm plans to release more scaleable versions of its product. Today, the appliances handle 400 Gbytes to 27 Tbytes of data; by next year, Scannell says, Netezza will top out at over 100 Tbytes.
As a startup, albeit a late-stage one, Netezza needs all the help it can get. Competition comes chiefly from database heavyweights, IBM Corp. (NYSE: IBM) and Oracle Corp. (Nasdaq: ORCL), which have distinct advantages over any newcomers. Also in the running is Teradata, a division of NCR Corp.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
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