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Elastifile Gets $8 Million in Series A Financing

January 28, 2014

Elastifile, a company developing new storage technology, announced it has raised $8 million in Series A financing from Battery Ventures and Lightspeed Venture Partners.

According to a release, as part of the investment, Battery General Partner Itzik Parnafes and Lightspeed Partner David Gussarsky will join Elastifile's board.

Elastifile noted its co-founders are serial entrepreneurs and highly experienced executives. They include CEO Amir Aharoni, previously an executive at Mobixell Networks and Optibase; CTO Shahar Frank, co-founder of XtremIO, a flash array storage company which was acquired by EMC in May 2012; and VP of Research and Development Roni Luxenburg, formerly director of software engineering at Red Hat.

Elastifile is redefining storage for the next generation of software-defined data centers and private clouds, which require elastic, high-performance and converged compute and storage services. The company's solution leverages emerging and pervasive data-center technologies such as flash-based storage media and 10GE networks.

"I am excited to back such a seasoned team with a singular focus and ambitious vision," said Gussarsky, of Lightspeed. "The potential market for this technology is enormous, and we look forward to partnering with Amir, Shahar and Roni to build innovative new products."

More Information:

www.battery.com

http://lsvp.com/

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