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.
“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.”