Serial Entrepreneurs Ariel Maislos, Etay Bogner Are Behind Ambitious Virtualization Venture
HERZELIYA, ISRAEL--(Marketwired - Oct 28, 2013) - Stratoscale, a company developing new virtualization technology to dramatically improve the performance and efficiency of large data centers, announced it has raised $10 million in Series A financing from Battery Ventures and Bessemer Venture Partners (BVP). Following the investment, Scott Tobin, general partner at Battery Ventures and Adam Fisher, partner at BVP will join Stratoscale's board.
Stratoscale's co-founders are both noted serial entrepreneurs: CEO Ariel Maislos previously co-founded Anobit Technologies, a company that applied revolutionary signal-processing theories to flash-memory and was acquired by Apple Inc. in 2012. Before Anobit, Ariel founded Passave Inc., a semiconductor firm purchased by PMC-Sierra in 2006. CTO Etay Bogner previously founded Neocleus, a client virtualization company that was acquired by Intel, and SofaWare, a security company acquired by Check Point.
Battery, which led the current Stratoscale funding round, previously worked with both Ariel at Anobit and Etay at Neocleus.
Stratoscale is redefining the compute stack and building software for the next generation of datacenter infrastructure. "Single-server solutions don't make sense at scale -- they are inefficient and difficult to manage, and the workloads no longer fit into single-server thinking," said Maislos. "Stratoscale is building the runtime software infrastructure for scalable computing. Under this system, each workload can run on the best matching hardware. All available resources are used, and a unified compute and storage infrastructure is achieved."
"Ariel and Etay are solving a big problem," said Battery's Scott Tobin. "There is a better way for organizations big and small to architect and manage their data centers, and Stratoscale is going to surprise people with the elegance of its solution and how the company takes what, behind the scenes, is a monumentally difficult task and delivers it in such a simple way."
"I am excited to back such a seasoned team with a singular focus and ambitious vision," added Adam Fisher, partner at BVP. "Datacenters based entirely on single-server virtualization have grown too inefficient, and Stratoscale is helping to manage these problems."
"Working with Scott and Adam is the best way to build a company that can tackle these huge problems," Maislos added.
Stratoscale is developing new technology to re-think next-generation data centers. The company, based in Herzeliya, is building the runtime software infrastructure for scalable computing, technology that will help customers use all available computing resources and unify computing and storage across the data center. Stratoscale was founded by serial entrepreneurs Ariel Maislos and Etay Bogner and is backed by Battery Ventures and Bessemer Venture Partners.
About Battery Ventures
Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel. To learn more, visit www.battery.com and follow the firm on Twitter @BatteryVentures.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya and Sao Paolo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, CornerstoneOnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public -- last year alone BVP had 5 IPOs, 7 M&A exits, and 20 new investments. Learn more at bvp.com and twitter.com/BessemerVP.
Atomic PR for BVP
Battery Ventures for Stratoscale