Reduxio Systems Raises $15M In Series B Funding

October 7, 2014 | The hybrid storage developer Reduxio Systems closed a $15 million Series B funding round led by Seagate Technology together with Jerusalem Venture Partners (JVP), Carmel Ventures and Intel Capital. The latest funding round comes a year after the Series A funding round that raised $12 million. According to the company, the funds will help accelerate product development and go towards supporting its go-to-market plan. As part of the investment round, Seagate will get a seat on the company’s board. Reduxio Systems was founded in 2012 with the goal of creating a next generation storage platform using Flash technology, high-capacity magnetic disks and a new space efficiency called NoDup.