Caringo Raises Money

Austin-based Caringo, which provides a software solution for storage clustering, announced funding from Vodaphone Ventures and Austin Ventures. The funding from AV certainly makes sense, but why Vodaphone Ventures? Vodaphone moved their venture investing group to the Silicon Valley in mid-2006 in order to get more aggressive in Web 2.0 and emerging technology deals, and to find more opportunities to co-invest with other VC’s. According to VP of Marketing Derek Gascon, “Paul Carpentier is the inventor of our CAS technology, and was demonstrating it’s capabilities in Europe. The people at Vodaphone saw it as a strong offering and liked the fact that it was low cost, and simple to administer.” Caringo has not released any details of the amount of the funding, but Mr. Gascon revealed that the offering was actually oversubscribed, and the amount of the raise was increased to accomodate the interest from the investors.

Caringo was named after the founders, Paul Carpentier, Jonathan Ring, and Mark Goros. For the past two years, the company has been bootstrapped with funding from the management team. CEO Mark Goros was previously a senior executive at one-time Wall St. darling Broadvision, and CTO Paul Carpentier is credited with being the brains behind the company’s core IP; a content addressing technology. One of the many notable achievements at this young company, eWeek recently named Caringo one of it’s Top 10 Disruptive New Storage Technologies.

CAStor is a scalable, high-performance and extremely cost-effective software product that runs on standard, commodity server hardware for a fraction of the price of proprietary CAS systems. CAStor is self-healing, managing and configuring, uses no proprietary APIs, and requires no provisioning or downtime to add nodes and storage capacity in real time. With CAStor, an organization can store all of its active and archive content with guaranteed integrity in a single tier storage environment that scales from 1 terabyte to petabytes. Files on the storage cluster can be accessed by http calls, or it can be seen as a file system. The CAStor software exists on a USB key, making installation as easy as plugging in the key and booting up the server node.

Posted by Austin Startup http://www.austinstartup.com To read more posts click here.