Parascale nabs $11 million for Linux cloud storage
The Silicon Valley company is the latest storage provider to attract venture capital. Its investors: Charles River Ventures and Menlo Ventures
Parascale said Monday that it raised $11.37 million in Series A venture funding from Charles River Ventures and Menlo Ventures, the latest in a string of cloud computing investments.
The Cupertino, Calif.-based Parascale, which provides storage in a networking "cloud" for digital content providers, said it plans to use the money to develop and market its upcoming Parascale Cloud Storage (PCS). PCS is an application that "aggregates disk storage on multiple standard Linux servers providing one highly scalable storage cloud," according to the company.
Charles River partner Bruce Sachs and Menlo's John Jarve will join the company's board of directors. The company was founded in 2004.
In April, Benchmark Capitalin RightScale, a software service provider for applications that run on Amazon.com Web services.