The cloud data performance company secures $5 million in Series A funding
SEATTLE--(BUSINESS WIRE)--SoftNAS, a leading enterprise-class data performance company, today announced significant changes to its strategic vision and business model, which are aimed at disrupting the cloud storage industry. To amplify these important changes and its breadth of cloud-native solutions, the company will now be known as Buurst.
Buurst recognizes the current model of charging organizations an additional storage fee is not relevant to the cloud and doesn’t position its customers for long-term success. Modern cloud customers require access to data with higher levels of performance and control. Moving forward, Buurst will provide value by delivering data performance, without charging customers a second time for the volume of data they store in the cloud. Cloud service vendors have traditionally charged customers by the gigabyte, terabyte or petabyte of data, however, with its new model, Buurst rejects this approach.
“The traditional model for cloud computing is evolving, and Buurst’s new approach is an example of companies creating inventive models that address organizations’ storage needs. Cloud data platforms and applications have an opportunity to rethink and change IT with innovative pricing models,” said Scott Sinclair, senior analyst, ESG Global. “Offering a more cost-effective way to leverage the cloud long term will be very appealing to customers.”
As an endorsement of this strategy, the company announced it secured $5 million in Series A funding on April 1. The additional financing brings the company's total equity capital raised to $11.4 million and will be used to scale the growth of Buurst’s business.
“Our customers’ data is growing exponentially and the current approach to data storage means their costs will soon eclipse their entire IT budget,” stated Garry Olah, CEO of Buurst. “We service hundreds of enterprise customers who are turning to us to find a more cost-effective approach to data management in the cloud. We are making it easier and cheaper for our customers to bring all of their data to the cloud.”
Buurst is dedicated to delivering new levels of data performance, control and availability to position businesses to move, access and leverage data quickly. Recently, Buurst reached 1 million IOPS per second, an unprecedented level of performance in the cloud. This capability combined with a patented cross-zone, high-availability with a 99.999 percent uptime guarantee gives customers true choice for their data in the cloud. SoftNAS will remain a core product offering from Buurst and is available on both AWS Marketplace and Azure Marketplace.
“The cloud computing market is forecasted to total more than $250 billion in 2020, which illustrates a tremendous opportunity,” explained Vic Mahadevan, chairman of the Buurst board of directors. “Additionally, recent global events have highlighted the importance of reliable access to data and the need for exceptional data performance. Buurst’s advanced offering and strategic approach differentiates the company from other data solution providers. This completes the transition of Buurst from a storage company to a data performance company.”
For more information about Buurst’s revolutionary strategy and solutions, register to attend the company’s virtual launch event on Wed., April 15 at 11 a.m. PT. Visit this website to register: https://bit.ly/2yFPh95
Buurst, Inc. is a leading enterprise-class data performance company that delivers migration, cost management, and control of data in the cloud customers need. Buurst optimizes cloud storage decisions for organizations, from migration to granular monitoring and management to storage tiering for cost performance, across all major cloud platforms, ensuring superior performance and optimization of business-critical data. Buurst has offices in Seattle and Houston and employees located across the globe. Buurst powers some of the largest enterprises, including Samsung, Halliburton, T-Mobile, Boeing, Netflix, L’Oréal and WWE. For more information, visit www.buurst.com
Communiqué PR for Buurst
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