GEAR6 SECURES $10 MILLION FINANCING ROUND FROM HORIZON VENTURES, U.S. VENTURE PARTNERS AND INTERWEST PARTNERS
Mountain View, Calif. – March 26, 2008 – Gear6, accelerating I/O for real time application performance, today announced it has secured a $10 million dollar financing round led by Horizon Ventures. Existing investors U.S. Venture Partners and InterWest Partners also participated in the round. The funds will be used to bolster the company’s market expansion being fueled by increasing demand for its CACHEfx line of scalable caching appliances. Centralized storage caching is rapidly emerging as the most simple and cost-effective way to increase data center application performance while dramatically reducing total storage costs.
“Gear6 has made great progress delivering centralized caching solutions in the data center,” said Doug Tsui, managing director at Horizon Ventures. “The company’s products showcase the kind of compelling customer rewards we expect when investing in new, industry-transforming solutions. CACHEfx appliances not only deliver significant performance improvements by eliminating I/O bottlenecks, but substantially reduce customers’ total storage costs, a vital ingredient for data center growth worldwide.”
“We are pleased to welcome Horizon Ventures as an investor in Gear6,” said Tom Shea, president and chief executive officer. “The market for our CACHEfx scalable caching appliances is poised for significant growth and this financing round gives us the opportunity to meet increasing demand for centralized caching solutions across key markets including performance computing, databases, business intelligence, web-scale and virtualized environments.”
This financing comes during a time of significant momentum for Gear6.
- Since launching the CACHEfx line of scalable caching appliances in 2007, Gear6 has announced customer wins in financial analytics, energy and exploration, and computer animation.
- In January 2008, Gear6 announced enhanced software capabilities of its CACHEfx appliances to better analyze and improve data center I/O performance.
- In February, Gear6 announced the launch of its Accelerate Partner Program with 11 active channel partners.
- In March, Gear6 announced the launch of its G100 scalable caching appliance that slashes storage costs, leverages existing storage systems and eliminates performance-threatening I/O bottlenecks. The CACHEfx G100 packs the performance of multiple storage systems in a solution with a list price of $149,000.