Feeds

Spinnaker vets win funds for Avere start-up

'Older, wiser and more battle scarred'

Top three mobile application threats

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. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
Brit boffins use TARDIS to re-route data flows through time and space
'Traffic Assignment and Retiming Dynamics with Inherent Stability' algo can save ISPs big bucks
Microsoft's Nadella: SQL Server 2014 means we're all about data
Adds new big data tools in quest for 'ambient intelligence'
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.