A group of tech industry veterans is betting on Austin’s Infinite io with a multimillion dollar investment.
Infinite io, which helps companies reduce data storage costs, received $10.3 million to ramp up growth and expand globally.
The Series B funding round was led by former Motorola CEO Chris Galvin and his son, David Galvin, who is founder of New York-based venture firm Three Fish Capital.
It also includes capital from Chicago Ventures, Equus Holdings and PV Ventures and individuals including tech entrepreneur Dean Drako and software serial entrepreneur Brett Hurt.
Infinite io, which was founded in 2013, has developed a network-based storage controller that sends inactive data to lower-cost cloud storage systems while keeping frequently used data on site.
Data that has not been moved to the cloud can still be accessed.
“We are proud to welcome this exceptional group of investors on board as we begin the journey to completely rewrite the rules in data management and performance,” said Mark Cree, co-founder and CEO of Infinite io.
Infinite io said its technology is being used by customers in media and entertainment, genomics, higher education, research, large-scale website development and government.
The company, which has raised a total of $15.5 million to date, has customers in the Netherlands and the United Kingdom, and has plans to break into additional international markets.
Infinite io also plans to more than double its 15-person employee team during the next six months, company executives said. It is hiring in areas including engineering, sales and marketing.
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