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Storage - Monday, June 23, 2008

Cloud Storage's Parascale Takes $11.37M In 1st Round

Having just announced that it has named a new CEO, Cupertino's Parascale has closed an $11.37M Series A Round. New CEO Sajai Krishnan took the helm at Parascale from his prior post at Netapp.

Parascale is a developing cloud storage solutions for rich-media content in traffic-intense applications like video-on-demand, photo archives, medical imaging, seismic data, and genomics data. The idea is to sell software to make storage systems out of commodity hardware. Parascale makes high-performance parallel file system grids using commodity Linux x86 server hardware.

Charles River Ventures and Menlo Ventures are backing Parascale.

If you are not into storage, what do you make of deals like this? Probably not much, they all look the same after a while. The key is that some of the biggest M&A deals in recent years have come out of storage. It seems that there are fewer huge breakthroughs in storage and that the open avenues are to focus on niche users.

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