Igneous Systems Secures $23.6 Million in Series A Funding.
A company that is reimagining the future of rapidly-expanding data center infrastructures, Igneous System, has recently announced it has raised a total of $23.6 million Series a seeding round ledy by new Enterprise Associates (NEA) with participation from Madrona Venture Group, Redpoint Ventures and Isilion Sysmtems co-founder, Sujal Patel.
The company had previously secured a $3 million financial round led by Madrona Venture Group with participation from Redpoint Ventures. The company will use this recent funding for product development and for significant expansion of its engineering and leadership teams. As part of this recent funding, Ron Bernal, Venture parner at NEA, will be joining the board of directors.
“With heavyweights like Microsoft, Amazon, F5 Networks, and EMC Isilon, Seattle is becoming a tech mecca in its own right, particularly when it comes to cloud technologies,” said Matt Mcllwain, managing director at Madrona Venture Group. “Igneous brings together three of Seattle’s leading technology visionaries, who have already set about building a world-class team comprised of top talent from cloud pioneers including Amazon Web Services. We are excited to have seeded and incubated Igneous and look forward to playing a role in the success of Seattle’s next great enterprise technology company.”
Founded by Three Former leaders from enterprise storage pioneer, Islion Systems, and storage and data management leader, NetApp, Igneous leadership team brings deep business and engineering experience in the enterprise technology market. CEO Kiran Bhageshpur has more then 20 years of experience in the enterprise technology, the last six of which he had spent on engineering the leadership roles at Islion.
As of recently, Bhageshpur has served as the vice president of engineering at EMC where he lead all the aspects of product development in the Isilon Storage Division. Igneous Chief Architect, Byron Rakitzis, has over 30 patient in storage and file systems. As the first non-founding employee of NetApp, Rakitzis was highly important tot he development of NetApp’s Write Anywhere File Layout (WAFL) and most recently worked on their all-flash storage solution. Jeff Hughes, Igneous VP of Engineering, spent more than 8 years engineering at Islion, serving as the Director of Engineering for EMC’s Islion Storage Division since 2012.
“We have been working the Igneous team since the beginning,” said Ron Bernal, venture partner at NEA. “This is a top flight team that knows how to execute at scale. We are pleased to be leading this funding round.”
“Cloud technologies have proven to be powerful change-agents across all segments of the enterprise IT landscape, providing infrastructure and services at unprecedented scale,” said Kiran Bhageshpur, CEO, Igneous. “This Series A round enables Igneous to accelerate development of our product as we work to transform the data center with a cloud solution that solves some of today’s most complex engineering challenges. The participation of NEA, Madrona, Redpoint and Sujal Patel also provides us with a wealth of entrepreneurial and technology experience on which to draw as we grow this company.”