Feeds

Spinnaker vets win funds for Avere start-up

'Older, wiser and more battle scarred'

Beginner's guide to SSL certificates

Avere, a new storage venture formed by Ron Bianchini and other Spinnaker veterans from NetApp, has gained $15m in Series A funding.

We expect a product announcement next month, one that will feature tiered solid state disk (SSD) and disk drive storage in a single product with a demand-driven aspect, presumably meaning it scales on demand.

The company has gained a Sales VP, Brian Gladden, described as a storage veteran and former NetApp colleague. This is not the Dell Chief Financial Officer Brian Gladden but the previous sales veep of Z Research Brian Gladden. Prior to Z Research, he ran the sales effort at Gear6 and previously served in a number of roles at NetApp including director of OEM sales.

The funding comes from Menlo Ventures and Norwest Venture Partners, which helped fund Spinnaker from its inception. In keeping with the enthusiasm needed by a man investing millions into a startup in a recession, Menlo Ventures MD John Jarve said: “It is with great delight that we rejoin forces to help build Avere. We believe it has the right team, the right technology and the right market focus.”

Bianchini, Avere's CEO and founder, said: "(This time around) we’re older, wiser and more battle scarred, but we’re still focused on our goal to bring game-changing storage solutions to the enterprise.”

Getting a product out of the door a year after start-up, combined with an announcement of $15m A-round funding a month before product announcement suggests the technology does not use Avere-developed hardware. If it did we might have expected previously-announced funding north of $30m and a two year-plus timescale. We might be looking here at software that uses commercially-available hardware, with the $15m needed for operating capital as Avere recruits staff and builds up a business infrastructure and initiates sales and marketing activities.

Of course we don't know product availability, so this is just guesswork. Still the timescale is short and the funding relatively small, both factors suggesting a software-based product. ®

Security for virtualized datacentres

More from The Register

next story
It's Big, it's Blue... it's simply FABLESS! IBM's chip-free future
Or why the reversal of globalisation ain't gonna 'appen
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
Bitcasa bins $10-a-month Infinite storage offer
Firm cites 'low demand' plus 'abusers'
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
CAGE MATCH: Microsoft, Dell open co-located bit barns in Oz
Whole new species of XaaS spawning in the antipodes
Microsoft and Dell’s cloud in a box: Instant Azure for the data centre
A less painful way to run Microsoft’s private cloud
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.