Israeli cloud storage solutions company Pliops announced the closing of a $30 million Series B funding round led by Softbank Ventures Asia, with participation from Intel Capital, State of Mind Ventures (SOMV) and Viola Ventures, along with strategic investors Western Digital Capital and Xilinx Inc. The latest funding brings the total amount raised since the startup’s founding in 2017 to $40 million.
Pliops developed technology that aims to solve the scalability challenges stemming from cloud data explosion and the increasing data requirements of artificial intelligence (AI) and machine learning (ML) applications.
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Pliops says that the latest funding will be used to accelerate the development of the company’s storage process technology for cloud storage and database applications, as well as to expand its teams in the US, Israel, and China.
“Businesses must scale their infrastructures in the face of skyrocketing data volumes, and we’re excited to help them,” says Uri Beitler, CEO and co-founder of Pliops. “Pliops’ technology transforms storage so that organizations achieve more consistent, readily-scaled performance with a simplified software stack. We are proud to have achieved the backing of such esteemed leading investors and to see early market traction. We look forward to sharing more about our flagship product in the coming months.”
“Pliops is solving a critical problem for database and storage architects – and doing it in a way that is both elegantly simple and amazingly efficient,” JP Lee, CEO and managing partner at SoftBank Ventures Asia, adds. “There is tremendous pent-up demand worldwide for solutions that enable next-generation data centers to perform and scale more efficiently, particularly in large cloud providers’ environments. Pliops’ architecture enables order of magnitude improvements in performance and even greater price/performance gains. We’re delighted to welcome the company to the SoftBank Ventures Asia portfolio.”
Pliops was founded in 2017 by Beitler, Moshe Twitto, and Aryeh Mergi.