This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

NVELO Secures $6.6 Million In Series A Funding

Stocks in this article: CDNS

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs