Storewiz Secures $9M

Investment by Sequoia Capital to help meet soaring demand for Storewiz's unique primary storage compression solutions

June 7, 2007

1 Min Read
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SAN JOSE, Calif. -- Storewiz Inc., the only provider of innovative online storage

compression solutions, today announced that it has closed a $9 million round of funding with leading

venture capital firm Sequoia Capital. The Series B funding will be leveraged by Storewiz to boost the

companys ability to meet the soaring demand for its solutions by organizations looking to benefit from

its patent pending data compression technology to maximize their network infrastructure at a fractionof their current cost.

The investment by Sequoia enables Storewiz to aggressively expand its sales and marketing teams in

the US and worldwide to meet soaring demand. The Storewiz unique primary data compression

solutions, which were first introduced into computing environments around the world at the end of

2005, offer companies significant operating expense reductions such as: fewer hardware devicesacquired and under management, reduced network traffic, less power consumption, and significant

floor space savings all achieved while enhancing performance.

“Our investment strategy is to search out those companies that we believe will have the greatest

impact in the industry in which they perform,” said Shmil Levy, Sequoia Partner. “We believe

Storewiz to be that market disrupter and feel that their leadership in the data compression industry is

something that will not soon be overcome. Our careful assessment of Storewiz and their innovativetake on storage dilemmas facing enterprises today allows us to enter into this partnership with full

confidence of their future success.”

Storewize Inc.

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