We love to think that OpenIO is an exception in the object storage market, due to the way we approach the problem of data storage. We don’t just look at the best $/GB, but understand that it’s more important to increase $/data (the value you can extract from your data). This unique approach, associated with the flexibility and lightweight design of our open source solution, helped us convince dozens of new customers last year, and has generated attention from end users, the media, partners, and investors. It's with great pride that, today, we announced our $5m funding round.
OpenIO is a young company, just two years old. It came late to a very tough market with plenty of competitors offering similar technologies. Most of these products are not that different from each other, and are based on similar concepts. They share a common goal: providing the lowest $/GB. But we’re going beyond that.
There’s not much point being like everyone else, so OpenIO is different. Innovations like Conscience technology have been welcomed by end users and technical experts alike for the unmatched flexibility they bring to cluster management and its scalability. And Grid for Apps, our serverless computing framework, is helping them offload more and more tasks to the storage infrastructure, improving and enhancing ROI.
Yes, OpenIO SDS is an object store, but it can be installed on a $5 computer as well as on the largest of datacenter nodes. It can be deployed in the cloud as well as at the edge. And, above all, it is flexible, making it a good choice to store any type of object, at any scale, and with a large variety of workloads. This is why we have been chosen by customers with 60PB and billions of objects under management, as well as by others with just a few terabytes to protect.
It's time to fuel growth
In the last few months, we signed up more customers than expected, and we invested primarily in engineering and support.
Now, thanks to this funding round, we can balance our team again and fuel our growth more organically. In 2018, we will expand sales in several key geographies, increases investments in the community and, (finally) make it easier to adopt our solution through better documentation and support material.
This is the beginning of a new chapter for OpenIO, and we are really excited about what is ahead.
Do you think traditional object storage is boring? So do we, and this is why we are here to change the conversation. Let's talk about Next-gen Object Storage and Serverless Computing: less about $/GB and more about $/data.
We’re going to change the way you store your data.