Navigation Links
Terascala Closes Additional Funding Based on Strong OEM Sales and Release of ISB
Date:11/5/2013

Boston, MA (PRWEB) November 05, 2013

Terascala, the fast data company, today announced the closing of additional funding from existing venture capitalists and several new investors. Ascent Venture Partners, Harborlight Capital Partners, and Thomas Weisel Partners co-led the equity investment. In addition, the company also signed a significant financing package with Bridge Bank, N.A. of San Jose, Calif. Under the terms of the financing package, Terascala secured two lines of working capital as well as an additional asset based lending facility. Details of the funding were not made public.

Over the last few months, Terascala has transitioned the company to a pure original equipment manufacturer (OEM) sales model and as a result, has been able to reorganize the company in such a manner to better support the needs of their primary OEM partners. OEM sales, primarily thru Dell and NetApp grew by over 100 percent in 2012 and are expected to finish 2013 with annual growth exceeding 75 percent. The business has grown significantly in the higher education, energy, and genomics markets, where the company’s partners have strong solutions and a significant presence.

The funding round will enable additional investments in Terascala’s latest product, the Intelligent Storage Bridge (ISB). Released in Q3, the ISB has already resulted in several orders and provides Terascala’s OEMs the potential to market integrated high-performance computing (HPC) and network-attached storage (NAS) solutions, an industry first. The ISB is a high-performance workflow manager designed to transfer large data sets quickly and automatically between fast scratch storage and enterprise storage.

Terascala’s products can be seen in the Dell booth #1301 and NetApp booth #601 at SC13 on November 17-22, 2013 at the Colorado Convention Center, Denver, Colorado.

“I am excited to announce the additional funding and the continued support of our investor syndicate. They are seeing the OEM sales growth and also hearing from enterprise customers that TeraOS-powered storage platforms in combination with ISB help establish the most efficient HPC infrastructure. Users are empowered with an easy to use, highly scalable, and highly reliable file system, rich analytics to optimize performance, and a high performance workflow with direct access to their project data at any point in the workflow," said Steve Butler, CEO for Terascala.

“Terascala is making great strides in its OEM business model, and we are excited about the company’s future. We were particularly pleased to see the growth and initial sales of the ISB with Dell, NetApp and other channel partners; we believe that the company will continue to grow at a rapid rate and are pleased to be an investor in the company,” added Walter Dick, Managing Partner, Ascent Venture Partners.

About Terascala

Terascala is the fast data company. Terascala storage appliances dramatically accelerate the time to insight for organizations that rely on simulation, analysis, and modeling tools to bring new products and innovation to market. Exclusively available through strategic partners Dell and NetApp, Terascala storage appliances provide on-demand throughput at multiple gigabytes per second while leveraging industry-leading storage platforms for long-term data protection. Learn more at http://www.terascala.com/.

Connect with Terascala
Read our blog: http://www.terascala.com/blog
Follow us on Twitter: http://www.twitter.com/terascala_inc
Watch a video: http://www.terascala.com/about-terascala-video/

Terascala and the Terascala logo are trademarks of Terascala, Inc. All other brands, products, or service names may be trademarks or property of their respective holders.

Read the full story at http://www.prweb.com/releases/2013/10/prweb11208478.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related biology technology :

1. Terascala Special Report Features Gartner Research to Help R&D and IT Users Accelerate Performance with HPC Storage Appliances
2. The University of North Texas Installs Terascala in Its New High-Performance Computing Cluster
3. Terascala Advances Its Vision of Optimizing High-Performance Computing Workflows for Faster Time to Results
4. Radius Closes $27.65 Million Second Tranche of Previously Announced Financing
5. Avaxia Biologics, Inc. Closes $4.1 Million Series A Financing to Advance Oral Antibodies for Inflammatory Bowel Disease
6. OncoSec Closes $7.75 Million Public Offering
7. AyoxxA Biosystems Closes Series A Financing Round
8. Enviva Closes on $120 Million Senior Secured Credit Facility
9. Avelas Biosciences Closes $7.65 Million Series A, Advances Real-Time Tumor Visualization Technology Toward Development
10. Biscayne Pharmaceuticals Closes $1.5 Million Financing To Advance Recent Discoveries Of Pioneering Endocrine Drug Researcher
11. Nasseo, Inc. Joins BioInspire™ Medical Technology Incubator, Closes Seed Funding Round
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... , ... ComplianceOnline’s Medical Device Summit is back for its 4th year. The ... Francisco, CA. The Summit brings together current and former FDA office bearers, regulators, industry ... officials from around the world to address key issues in device compliance, quality and ...
(Date:10/11/2017)... ... October 11, 2017 , ... Disappearing forests and increased emissions are ... 5.5 million people each year. Especially those living in larger cities are affected by ... in one of the most pollution-affected countries globally - decided to take action. , ...
(Date:10/10/2017)... (PRWEB) , ... October 10, ... ... development-stage cancer-focused pharmaceutical company advancing targeted antibody-drug conjugate (ADC) therapeutics, today confirmed ... targeted HPLN (Hybrid Polymerized Liposomal Nanoparticle), a technology developed in collaboration with ...
(Date:10/10/2017)... , Oct. 10, 2017 SomaGenics announced ... the NIH to develop RealSeq®-SC (Single Cell), expected to ... profiling small RNAs (including microRNAs) from single cells using ... highlights the need to accelerate development of approaches to ... "New techniques for measuring levels of ...
Breaking Biology Technology:
(Date:3/27/2017)... 2017  Catholic Health Services (CHS) has been ... (HIMSS) Analytics for achieving Stage 6 on the ... In addition, CHS previously earned a place in ... electronic medical record (EMR). "HIMSS Analytics ... EMR usage in an outpatient setting.  This recognition ...
(Date:3/24/2017)... 2017 Research and Markets has announced the ... & Trends - Industry Forecast to 2025" report to their ... The Global ... CAGR of around 15.1% over the next decade to reach approximately ... the market estimates and forecasts for all the given segments on ...
(Date:3/23/2017)... -- Research and Markets has announced the addition of ... Industry Forecast to 2025" report to their offering. ... The Global Vehicle Anti-Theft ... 8.8% over the next decade to reach approximately $14.21 billion by ... and forecasts for all the given segments on global as well ...
Breaking Biology News(10 mins):