Feeds

Spinnaker vets win funds for Avere start-up

'Older, wiser and more battle scarred'

Choosing a cloud hosting partner with confidence

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. ®

Internet Security Threat Report 2014

More from The Register

next story
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
IBM, backing away from hardware? NEVER!
Don't be so sure, so-surers
Hey - who wants 4.8 TERABYTES almost AS FAST AS MEMORY?
China's Memblaze says they've got it in PCIe. Yow
Microsoft brings the CLOUD that GOES ON FOREVER
Sky's the limit with unrestricted space in the cloud
This time it's SO REAL: Overcoming the open-source orgasm myth with TODO
If the web giants need it to work, hey, maybe it'll work
'ANYTHING BUT STABLE' Netflix suffers BIG Europe-wide outage
Friday night LIVE? Nope. The only thing streaming are tears down my face
Google roolz! Nest buys Revolv, KILLS new sales of home hub
Take my temperature, I'm feeling a little bit dizzy
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.