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In
addition, Velostrara said it had raised $14 million in early
stage, Series A funding from established venture financers
Norwest Venture Partners and 83North, which previously operated
as the Israeli arm of Greylock Partners.
Velostrata said its software promises to remove barriers to
adopting Internet-based storage by combining elements of
lower-cost off-site cloud services with the control of keeping
business data secured on local datacenters.
This approach lets technicians offload inactive data from local
computers inside an organization for storage back-up and data
archiving in the cloud, allowing speedy recovery from data
disasters within minutes, the company said. This is a key
limitation holding back adoption of cloud services by companies.
Velostrata, which was founded in Netanya, northern Israel in
2014 and is now based in San Jose, Calif., is the brainchild of
serial software entrepreneur Issy Ben-Shaul, Velostrata's chief
executive, and Ady Degany, its chief product officer.
Ben-Shaul was co-founder of Actona, a company sold to Cisco for
$82 million in 2004 who then founded Wanova, a virtual desktop
firm sold to VMware in a 2012 deal reportedly valued at the time
in a similar range.
Degany ran product marketing at StorSimple, storage software
company acquired by Microsoft, also in 2012, for undisclosed
terms.
(Editing by Maria Sheahan)
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