Memverge Secures $24.5 Million USD in a Series A Funding Round

(San Jose, CA) Memverge likes to cite the following fascinating fact, about the modern computer technology ecosystem.  Everyday 2.5 quintillion bytes of data are created, and subsequently, accelerated through the flood that is machine generated data.  Machine generated data, can best be characterized as; artificial intelligence, machine learning, the internet of things and analytics applications.  Interestingly; everything that is the previously said, results in a heavy workload that, requires high performance solutions.  Keeping true to its reputation, Memverge, does offer a technology solution; for the previously explained need.  Officially, it is named Memverge’s Memory Converged Infrastructure (M.C.I.).  Filled with enthusiasm about the previously stated, this computer technology business, entered into a funding round.  Recently, Memverge revealed that, it has emerged from a Series A funding round.  Specifically, it reports $24.5 million USD in secured money.  As a result of, the infused capital, Memverge has new investors.  The most noteworthy of these investors are; Gaorong Capital, Jerusalem Venture Partners, LDV Partners, Lightspeed Venture Partners and Northern Light Venture Capital.

          Gaorong Capital, Jerusalem Venture Partners, LDV Partners, Lightspeed Venture Partners and Northern Light Venture Capital; will all be contributing funds.  The newly infused funds from the Series A funding round will be used to expand the engineering side, expand the sales team, expand the marketing team, accelerate research and development and further the development of the Memverge M.C.I. technology solution.  The International Data Corporation, or IDC, is a provider of market intelligence.  The market intelligence is also combined with advisory services, and, events.  The goal is market intelligence on information technology, telecommunications and the consumer technology markets of the economy.  In support of, Memverge, IDC did release a press statement.  Eric Burgener is the Research Vice President of Infrastructure Systems Platforms and Technologies Group at IDC.  Through a press statement, Mr. Burgener said the following.  “As more IT organizations look to leverage next generation big data analytics in a more real-time manner to drive better business optimization and planning, it’s clear that existing storage technologies are falling short of the performance requirements.”  Eric Burgener also said.  “With burgeoning persistent memory technologies now becoming available from vendors like Intel, it was inevitable that someone would come up with a storage operating environment specifically designed to run in persistent memory, and that is what storage startup MemVerge has done.  The vendor’s Distributed Memory Objects technology promises to meet the requirements of next generation analytics workloads with lower latencies, more predictable performance at scale, expanded capacity, improved efficiencies and better reliability.” 

          Returning to, Memverge’s new investors, one of the aforementioned venture capital firms did release a press statement.  Bin Yue is a Founding Partner at Gaorong Capital.  Through a press statement, Mr. Yue said the following.  “The explosion of machine generated data has created a massive opportunity for enterprises to gather actionable real-time insights and streamline business processes.  However, AI, machine learning, IoT and data science applications place extreme demands on current IT infrastructure—workloads are prone to slowing or failing.  Until now, most enterprises had to choose between more speed or more capacity, which didn’t solve the problem.  MemVerge has taken this need head-on.  The company has a massive opportunity in being the first to market with a commercial Memory-Converged infrastructure system.” 

          To end, Memverge did release a press statement.  Charles Fan is a Co-Founder and the Chief Executive Officer of Memverge.  Through a press statement, Mr. Fan said the following.  “The transformation of the data center is long overdue.  By eliminating the boundaries between memory and storage, our breakthrough architecture will power the most demanding AI and data science workloads today and in the future at memory speed, opening up new possibilities for data intensive computing for the enterprise.”  As previously stated, Memverge recently revealed that, it has emerged from a Series A funding round.  Specifically, it reports $24.5 million USD in secured money.  As a result of, the infused capital, Memverge has new investors.  Lastly, the most noteworthy of these investors are; Gaorong Capital, Jerusalem Venture Partners, LDV Partners, Lightspeed Venture Partners and Northern Light Venture Capital.

 

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Written from Press Release

Registered Writer with

PR Newswire Association, LLC

R-Berumen28

04/06/2019

 

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