Tuesday, August 6, 2013

Tegile Systems raises 35m

Tegile Systems raises $35 million series C



Web Producer- Silicon Valley Business Journal
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Tegile Systems, a Newark-based provider of data storage equipment for data centers, raised $32 million of a $35 million series C round, according to an SEC filing. Investor names were not disclosed.
The company makes hybrid flash storage arrays, a very hot space for investment these days because high-performance flash memory is ideal for cloud environments.
Tegile's Zebi storage arrays use a mixture of fast solid state drives and traditional hard drives, coupled with software virtualization, to balance performance and cost. It claims that its technology enables its memory arrays to use 75 percent less storage capacity and seven times the performance over older devices.
Storage companies are among some of the most in-demand startups in the Silicon Valley these days, driven both by increased energy efficiency needs by data center operators and changes in network architecture brought on by the ability of a new breed of software virtualization technologies to replace expensive specialized hardware for many data center functions.
According to LinkedIn, two of the top 5 most in-demand startups are storage companies.
Click here to read Tegile Systems' Form D filing.

Cromwell Schubarth is vacationing this week, so TechFlash Silicon Valley stories are being posted by other Silicon Valley Business Journal reporters and correspondents. Contact Jon Xavier (jxavier@bizjournals.com) with tips about breaking news to cover this week. Email Cromwell at cschubarth@bizjournals.com with other stuff.
Jon Xavier is Web Producer at the Business Journal. His phone number is 408.299.1826.

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