Caringo Secures Venture Capital and Private Equity Funding
Caringo Inc., a leading provider of content storage software that delivers a clustered storage infrastructure for storing both active and archive content, recently announced that Vodafone Ventures has made a private equity investment in Caringo. Previous Investor Austin Ventures also joined in funding the company. The company also announced it will use the funds for its future stages of development.
Founded in 2005, Caringo is led by a management team that brings strong leadership, business and technology experience and success to the company. Caringo has clearly demonstrated its value by creating and marketing truly innovative storage software that solves critical real-world problems related to the unbridled growth of file-based or unstructured data. Rather than make its CAStor™ software complex and expensive, Caringo significantly changes the way corporations store content by making it affordable, scalable, simple and fast to implement. Caringo empowers businesses with powerful software to store both active and archive content on a scalable, high performance storage cluster.
“We pride ourselves in identifying companies that offer innovative technology solutions, are led by a passionate leadership team and can successfully grow their business to viability from initial startup,” said Krishna Srinivasan, Partner, Austin Ventures. “We believe that Caringo is exactly that kind of company and are pleased to be an investor as they continue to disrupt the storage market with their simple-yet-powerful CAStor solution.”
”Our investment in Caringo is well aligned with Vodafone Ventures’ strategy to invest in high-growth technology companies that present real commercial opportunities for Vodafone’s core business,” said Peters Suh, President of Vodafone Ventures. “We believe Caringo has the potential to deliver significant storage cost efficiencies to Vodafone and is uniquely positioned in terms of value and performance.”
“Austin Ventures and Vodafone Ventures have a strong understanding of our CAStor technology and will lend their support and backing to help facilitate its commercial growth and global distribution,” said Mark Goros, Caringo CEO. “Vodafone Ventures brings much more than money to this investment and with their support, we are confident that Caringo’s potential will continue to grow.”
CAStor is a scalable, high-performance and extremely cost-effective software product that runs on standard, commodity server hardware for a fraction of the price of proprietary CAS systems. CAStor is self-healing, managing and configuring, uses no proprietary APIs, and requires no provisioning or downtime to add nodes and storage capacity in real time. With CAStor, an organization can store all of its active and archive content with guaranteed integrity in a single tier storage environment that scales from 1 terabyte to petabytes – all while requiring minimal administration and management.
Caringo Inc. is a leading provider of content storage software and has re-imagined content addressed storage from the ground up with its flagship CAStor product. CAStor is third-generation technology that leverages the customer’s choice of commodity hardware for implementing a robust storage cluster that dramatically improves the scope and economics of corporate content storage. Founded on the operating principle that things should be made as simple as possible and a customer-first focus, Caringo makes content storage affordable, scalable, fast and easy.For more information, please visit www.caringo.com