Pliops Closes $65M Funding Round to Skyrocket Data Center Efficiency, Starts Countdown to Product Launch
SAN JOSE, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) — Technology innovator Pliops announced today that it has closed a $65 million oversubscribed funding round, led by Koch Disruptive Technologies (KDT). All current investors, including State of Mind Ventures (SOMV) , Viola Ventures , Intel Capital , SoftBank Ventures Asia , Expon Capital , Western Digital, Xilinx , and Sweetwood Capital participated, with NVIDIA increasing its share. This news positions Pliops for its goal: delivering game-changing value for enterprise and cloud customers.
The investment will be used to bring the new levels of scale, speed and cost effectiveness promised by Pliops’ storage processor to more customers in more ways. A hardware-enabled storage engine deployed in a PCIe card form factor or as a cloud service, the storage processor unlocks the full potential of SSD storage by exponentially improving cost, performance and endurance. Through its storage processor, Pliops substantially accelerates the processing of data-intensive applications in data centers.
“Pliops is effectively reinventing the approach to one of the most critical, data-intensive challenges in a very large, expanding market,” said KDT Managing Director Eli Groner. “The Pliops technology has broad applicability to not only today’s workloads, but the emerging workloads of tomorrow.”
On a mission to revolutionize the way data and storage are managed in the data center, the company plans to scale its technology into new use cases, expand its product line, and double the size of the company by the end of 2021. Pliops has expanded its executive team globally and is ramping up its resources as it moves into its next stage: to deliver broad availability of its storage processor and to expand value for their impressive list of existing customers.
Of key importance to Pliops is enabling more customers by delivering their solution in multiple forms. Whether on premises, in the cloud, integrated with customer products, or built into an ASIC, Pliops is engaged with leaders in the cloud service provider and broader enterprise market segments seeking to accelerate a wide range of data-intensive workloads.
“Pliops technology accelerates the fastest growing workloads that are driving demand for increased compute and storage performance in data centers,” noted Nimrod Gindi, senior vice president of investments at NVIDIA. “Combining NVIDIA data center GPU and DPU product lines with Pliops’ storage processor for accelerated cloud and machine learning solutions will provide exceptional performance and efficiency for our customers.”
While fundamental issues like efficient data structures and dynamic capacity management have been studied for years, Pliops’ novel combined hardware and software approach has motivated leaders in data store and processing to invest in the company. Likewise, many of the largest cloud data center providers and users, as well as leading storage innovators like Percona, SAKURA internet and Intel, have publicly recognized the potential impact of Pliops’ innovations – and are collaborating as customers and partners.
“KDT is focused on making big bets on disruptive technology with huge market potential – which aligns perfectly with what we are doing at Pliops,” noted Uri Beitler, founder and CEO of Pliops. “With data storage – and the computational requirements for processing that data – growing at an exponential rate, status quo approaches fall short. Our solution takes a new approach that enables unprecedented scalability in data centers. Additionally, to have a partner as important as NVIDIA increase their investment in Pliops is a huge vote of confidence. We are committed to growing our technology to its maximum potential, and look forward to strategic, long-term partnerships with our investors and customers.”
Founded in 2017, Pliops is a technology innovator focused on making data centers run faster and more efficiently. A fundamental building block for the data-centric era, the Pliops storage platform addresses the exponential growth of data storage – and the subsequent computational processing requirements this has created. Pliops uses innovative, patented data structures and algorithms to eliminate data amplification and enable consistently high I/O performance, capacity, and endurance – reaching up to 100x faster data access with just a fraction of the computational load and power consumption. Pliops was recently named as one of the 10 hottest semiconductor startups in 2020 by CRN and its storage processors are shipping to select customers. The company has raised $115M to date from leading global investors including State of Mind Ventures, Viola Ventures, Intel Capital, KDT, SoftBank Ventures Asia, NVIDIA, Expon Capital, Western Digital, Xilinx and Sweetwood Capital.
For more information visit www.pliops.com or connect on Twitter and LinkedIn .
Lages & Associates