Divergent Ventures Leads $2M Round for San Diego’s Proximal Data
Proximal Data, a San Diego data storage specialist founded in 2011, says it has raised $2 million in a Series B round led by Seattle’s Divergent Ventures and existing investor Avalon Ventures of San Diego. The round brings total funding for the company to $5 million, according to a statement today.
Proximal is developing software to optimize storage performance for virtual servers, a market crowded with competition. The company unveiled a technology collaboration partnership last summer with Micron Technology (NASDAQ: NU), and has been developing its virtual machine technology for use with Micron data storage devices.
Proximal was founded by Rory Bolt, who was the chief technology officer at Irvine, CA-based Avamar Technologies, acquired by EMC (NYSE: EMC) in 2006 for $165 million. He also has worked as a technical director at NetApp, and as a distinguished fellow at Quantum. He was a founder of @Backup and was project manager at Stac Electronics.
Proximal’s approach inserts its intelligent “virtual cache” software in the virtual machine software, without requiring special-purpose storage devices or operating system agents.
The company has been expanding in Europe, and plans to use proceeds of the venture round to increase its sales and distribution channel and to further advance its virtual cache technology.