Caringo Raises $5M in Funding

We first wrote about Caringo two years ago with their first very quiet and secret raise of funds. Today they are putting out a press release announcing $5M in funding. It’s hard to say if this is in addition to their previous money, or if they’re finally announcing that they’ve raised $5M over the past few years and they’re lumping it all together to call it a Series A.

[Update: The company confirms this is new funding, and was raised from start to finish in 3 months]

Caringo’s CAStor object based software scales from terabytes to petabytes using off-the-shelf, commodity server hardware from providers such as IBM, Dell and HP, and lowers cost of ownership from acquisition through operations. Based on a ‘set it and forget it’ philosophy, CAStor automatically and dynamically balances load and storage matching usage patterns to node specifications. Data integrity, authentication and retention are built into the architecture for compliance and common sense information protection. CAStor, long considered a ‘disruptive’ product, and its companion technologies Content Router, Content File Server and CloudFolder, excel at storing, managing and accessing the vast amount of digital content generated by enterprises.

“During an economically difficult time for many technology companies, when several vendors have scaled back or even gone under completely, this investment round is an endorsement that Caringo is on the right path to success and future growth,” said CEO Mark Goros. “We look forward to a successful expansion phase thanks to this investment.”

Posted by Bryan Menell http://austinstartup.com Bryan is the founder and Editorial Director of AustinStartup.com, which launched in 2005. He is currently the Director of the Collaboratory at venture-funded Dachis Group. Bryan advises a handful of early stage companies and is a Managing Director of Capital Factory. To read more posts click here.