Avere Systems Secures $14M in Series E Funding Led by Google for Hybrid Cloud Expansion
Key Investors and Funding Round Highlights
Pittsburgh-based Avere Systems, a leader in hybrid cloud data storage solutions, has successfully closed a $14 million Series E funding round. The investment was led by new investor Google, alongside participation from existing backers including Menlo Ventures, Norwest Venture Partners, Lightspeed Venture Partners, Tenaya Capital, and Western Digital Capital.
Why Hybrid Cloud Storage Matters
Founded in 2008, Avere Systems specializes in bridging the gap between on-premises infrastructure and public cloud storage. Their hybrid approach offers enterprises:
- Faster data-transfer speeds for critical operations
- Enhanced privacy controls for sensitive data
- Scalable cloud resources for compute-intensive tasks
This balanced model addresses the growing demand for flexible storage solutions. According to Gartner, the global public cloud services market is projected to reach $250 billion in 2017, reflecting an 18% year-over-year growth.
Funding History and Growth Trajectory
With this latest round, Avere Systems has raised $97 million to date, including:
- $15 million in 2009
- $17 million in 2010
- $20 million in 2014
The new capital will accelerate product development to help more organizations seamlessly adopt hybrid cloud solutions.
Executive Insights
Ron Bianchini, President and CEO of Avere Systems, emphasized the company’s momentum:
“In 2016 alone, our cloud business grew by 97%, with cloud offerings driving nearly half of our annual bookings. This investment validates our innovative approach to hybrid infrastructure challenges.”
Strategic Implications of Google’s Direct Investment
Google’s participation is particularly noteworthy because:
- It represents a rare direct corporate investment (not through GV or CapitalG)
- Highlights deep technical synergies with Google Cloud Platform
- Follows Avere’s recognition as Google’s Top Cloud Platform Technology Partner in 2015
This move signals Google’s commitment to strengthening its hybrid cloud capabilities as it competes with AWS and Microsoft Azure.
Western Digital’s Continued Support
Western Digital Capital (the investment arm of the storage giant) also participated, reinforcing the strategic alignment between the companies. This marks their second major investment in Avere Systems after leading the 2014 funding round.
The Future of Hybrid Cloud
This funding round underscores:
- The growing enterprise demand for hybrid cloud solutions
- Strategic partnerships between cloud providers and infrastructure specialists
- Google’s focused investment strategy in complementary cloud technologies
As organizations increasingly adopt mixed infrastructure models, Avere Systems is well-positioned to capitalize on this market shift with its innovative hybrid approach.
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