This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NVELO Secures $6.6 Million In Series A Funding

SANTA CLARA, Calif., July 19, 2011 /PRNewswire/ -- NVELO Inc., a pioneer in storage software, and makers of Dataplex™ storage caching software, today announced that it has closed $6.6 million dollars in Series A financing led by Silicon Valley-based venture fund SKS Capital. The capital will support the expansion of the Dataplex product line for consumer computing and the launch of a new Dataplex storage product designed specifically for server storage caching.

"Our customers want affordable SSD performance with HDD capacity," said Jiurong Cheng, a Founder and CEO of NVELO. "That's exactly what we are delivering with our Dataplex software, which we are rolling out this quarter to select PC OEMs and SSD vendors. Now with this additional funding, we can ramp our R&D effort to begin targeting servers and enterprise-class storage."

"The NVELO team has a strong track record of product innovation and overall business success," said Sanjay Srivastava, general partner at SKS Capital and senior vice president, research and development, SoC Realization Group at Cadence Design Systems, Inc. "NVELO is committed to providing the industry with much needed solutions that address the cost and performance of computing storage, and we believe that this new capital will enable NVELO to accelerate the development of new and disruptive products for both the client and server markets."

Cadence Design Systems, Inc. (NASDAQ: CDNS) also holds equity investment in NVELO.

"Cadence continues to invest in companies that bring differentiated, innovative solutions to fast growing markets," said Nimish Modi, senior vice president, research and development, System & Software Realization Group at Cadence. "We see NVELO as a key player in bringing SSD technology to mainstream computing through its caching software products and scaling the core technology to address enterprise storage."

The Dataplex consumer product won the "Visionary Products Award for Mobile Consumer Electronics Storage" at the 2011 Storage Visions Conference for addressing the need for SSD performance with HDD capacity in PC and Notebook computing. Compatible with any desktop or notebook computer, Dataplex uses a low-capacity SSD as cache for the traditional HDD found in consumer computing, delivering SSD performance with HDD capacity, at incremental cost over HDDs. Dataplex continuously monitors system data traffic and dynamically adapts to user behavior for optimal placement of data in either HDD storage or SSD cache.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs