Cloudian recently secured $23 million in growth funding as demand for object storage continues to increase. The company’s HyperStore solution is seeing a 30 percent year-over-year increase in annual recurring revenue (ARR) and is being used for AI data lake storage. Cloudian has partnered with HPE to offer HyperStore as a GreenLake service, gaining four new customers through the subscription service.
Michael Tso, the CEO and co-founder of Cloudian, stated that the company is experiencing substantial growth and has reached a break-even point financially. The funding was provided by Morgan Stanley Expansion Capital, with CEO Stanley Hua expressing support for Cloudian’s continued success.
Cloudian has gained customers such as a global retailer and cloud services provider Verinext through the GreenLake service. The global retailer has transitioned to using Cloudian’s HyperStore for their Splunk data analytics infrastructure, resulting in a 51 percent reduction in storage costs. Verinext provides fully managed backup, disaster recovery, and storage services using Cloudian’s AI data lake.
HyperStore supports AWS Mountpoint installation, allowing applications running on AWS to issue file I/O requests to HyperStore. This enables AI applications running on AWS to utilize storage in the HyperStore data lake, feeding data to GPU instances. Hammerspace’s global data environment is now supporting S3, providing a high-performance connection between local HyperStore servers and NVIDIA GPUs.
Cloudian’s Hyperstore software is available on AWS Marketplace, HPE GreenLake, Lenovo, and through its global reseller list. The company has established relationships with various data analytics vendors, including Snowflake, Teradata, Microsoft SQL Server, VMware Greenplum, and Vertica.
Overall, Cloudian’s growth and success in the object storage market have positioned the company for continued expansion and innovation in the AI-ready data lake technology space.
Article Source
https://blocksandfiles.com/2024/06/25/cloudian-gets-more-funding-as-it-reaches-breakeven-bags-hpe-greenlake-wins/
