Contact Information: Media Contacts: Jason Throckmorton or Melissa Biles LaunchSquad 415-625-8555 ocarina(at)lauchsquad(dot)com
Ocarina Networks Secures $20 Million in Series B Financing to Grow Leadership in Thriving Online Storage Optimization Market
JAFCO Ventures-Led Round Includes Kleiner Perkins and Highland Capital, Targets Fast-Growing Market for Data Reduction Solutions That Slash Storage Costs
| Source: Ocarina
SAN JOSE, CA--(Marketwire - February 25, 2009) - 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 industry's 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 industry's 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
industry's 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.
The Ocarina ECOSystem has been deployed in some of the industry's largest
internet data centers and Ocarina Optimizers have shrunk over a billion
files, achieving reduction across hundreds of data formats, while allowing
these files to be served up in active online production data.
"In Ocarina, you have a solution that is helping companies scale storage
systems to meet unprecedented data retention requirements while addressing
an urgent need to reduce storage costs," said Joe Horowitz, general partner
at JAFCO. "Ocarina is one of a handful of companies that meets our
investment criteria in today's market: a company with real momentum,
addressing a broad and significant market, and with a compelling ROI value
proposition."
While numerous companies offer solutions to optimize storage capacity for
backup or archived data, Ocarina Networks' solution is one of the only
offerings to reduce the storage footprint of online file data, which is
growing at a significantly faster rate for both large and mid-sized
companies.
Ocarina's patented three step ECOSystem -- Extract, Correlate, and Optimize
-- is the world's first content aware optimization technology to deliver a
significant reduction in the size of the files that are driving the growth
of online storage. These complex file types include email, photos, video,
Microsoft Office, and industry-specific file types for energy, media,
medicine, and genomics. The ECOSystem combines
content-aware compression, object deduplication, and patented Ocarina
information extraction algorithms to achieve better results than either
compression or traditional sliding window dedupe alone.
About Ocarina
Ocarina is a leader in online storage optimization solutions. Organizations
of all sizes use Ocarina's content-aware optimization technology to reduce
their storage footprint and achieve a ten-fold capacity increase on their
current storage systems. Based in San Jose, Calif., Ocarina is
privately-held and financed by leading investors JAFCO Ventures, Kleiner
Perkins Caufield & Byers and Highland Capital Partners. For more
information, visit www.ocarinanetworks.com.