Israeli storage startup E8 raised a $12 million Series B round from a group of investors led by Accel, the company announced on Tuesday.
E8 is targeting enterprise customers with a product using what it calls “next-generation” flash storage called NVMe (non-volatile memory express) that includes rack-scale architecture and is faster than older versions of storage, according to the startup.
“We are excited to have Accel join our existing investors Magma Venture Partners and Vertex Ventures,” said Zivan Ori, CEO and Co-Founder of E8 Storage. “Today’s investment brings us closer to launching our software-centric solution, which is currently in beta testing, as the only scale-out solution in the industry.”
NVM is a “logical device interface” that helps store and transfer data on SSDs (solid-state drives which are faster than traditional hard drives). NVMe further lowers latency, or the time it takes to transfer data. Rack space architecture also allows for reliance on basic software and hardware components when storing data in the cloud. Taken together, E8 is arguing they have a high-speed, simple and efficient solution for big data storage.
They are one of the less-than-hundred members of the NVM Express Association, a group of companies that governs the standard of NVMe. Other members include brand titans Cisco, Dell, Intel, Microsoft, NetApp, Oracle, PMC, Samsung, and SanDisk.
“It provides a rich feature set of data services such as high availability, RAID and thin provisioning, and can be easily scaled and upgraded as hardware components improve,” Ori went on to say. “The fast-growing interest in E8 Storage proves that the market for shared NVMe solutions is definitely maturing.”
Previous Israel-based investors Magma Venture Partners and Vertex Ventures also participated in the round. Accel lead investor Kevin Comolli will join the E8 board of directors.
Comolli noted that, “The next generation of high-performance enterprise applications such as big data analytics and IoT data processing require a fundamental rethink of our existing data center architectures.”
CEO Zivan Ori and VP of R&D Alex Friedman co-founded E8 in 2014. They maintain their R&D offices in Israel and plan to expand their sales staff in the U.S.