June 1st, 2015 by Adam Armstrong
Hedvig Raises An Additional $18 Million In Funding
Today Hedvig announced that it has raised an additional $18 million is series B funding bringing the total amount it has raised thus far to $30.5 million, all within three months of the company coming out of stealth. Hedvig plans on using the funding to rapidly expand across the globe while addressing the demands of its customers.
Avinash Lakshman founded Hedvig three years ago and is the current CEO (Lakshman was the inventor of Cassandra at Facebook and co-invented Amazon’s Dynamo NoSQL database). Hedvig came out of stealth in March this year. Hedvig has developed a distributed software-defined storage platform, Hedvig Distributed Storage Platform, which delivers modern storage for any enterprise compute environment running at any scale. Hedvig’s platform can run seamlessly in both private and public clouds and can scale to Petabytes. Hedvig also claims that its platform gets smarter and better as the system scales, turning commodity hardware into the “most advanced storage solution available today.”
A newly launched venture firm, Vertex Ventures, as well as existing investors True Partners and Atlantic Bridge led this round of investing. In Sik Rhee, a general partner at Vertex Ventures, is also joining Hedvig’s board of directors. Vertex Ventures sees software-defined storage as the next market that will explode with growth, and they see Hedvig in a good position to ride the wave of explosive growth. Hedvig sees the further investment in its company as validation for their technology and approach.
Data is growing ten times faster than storage budgets. In order for enterprises to adapt to this rate of growth, they are looking for new solutions such as software-defined storage. Hedvig Distributed Storage Platform is a combination of the flexibility of the cloud and commodity infrastructure with the simplicity of an AWS-like experience. Companies will be able to easily add more capabilities as the need arises without drastically changing their existing infrastructure.