ONStor, Inc., a provider of clustered NAS products, has secured an undisclosed round of funding from existing investors, which include Mayfield Fund, Foundation Capital, and Sand Hill Capital.
CAMPBELL, Calif., Dec. 19 /PRNewswire/ — ONStor, Inc., a leading provider of clustered NAS solutions for primary and value-tier storage for enterprises and content-rich organizations, today announced it has secured an additional round of funding from its key investors: Mayfield Fund, Foundation Capital, and Sand Hill Capital. The latest round of funding closed earlier this week.
“Given the challenging economic climate, we are extremely pleased with the strong endorsement these leading investors have given to our business strategy and solution portfolio,” said Bob Miller, ONStor CEO and chairman of the board. “Their ongoing support reflects the market demand for our scalable NAS solutions in the enterprise. ONStor cuts costs through storage and server consolidation and makes growing a data center simple and cost effective,” Miller continued, “Our customer retention rates continue to be well above the industry average, and our goal is to achieve profitability in 2009.”
The additional round of funding will be used for ongoing operational expenses and new product development, as well as business growth and marketing programs dedicated to attracting additional IT solution providers and customers.
ONStor provides clustered NAS solutions for both primary and value-tier storage, focusing on enterprise data centers and content-rich organizations and giving customers the ability to cost effectively manage the accelerating growth of unstructured data. ONStor’s award-winning solutions deliver flexible data management, protection, and file server consolidation for a new generation of data-intensive applications through a combination of advanced technologies including virtualization and energy-efficient design.
Proven at customer sites worldwide, ONStor Pantera integrated NAS systems plus Cougar and Bobcat clustered NAS gateways offer the broadest choice of storage and enable customers to easily scale storage with the lowest total cost of ownership (TCO). ONStor solutions are available through a global network of resellers and distribution partners. More information about ONStor can be found at http://www.onstor.com.
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