StorPool secures a ‘seven-digit’ investment
Maintaining a storage infrastructure in the cloud can be quite challenging so Bulgarian startup StorPool has set out to develop software for distributed data storage, which enables firms to handle theirdata efficiently and in a reliable manner. The startup has just secured a “seven-digit amount” from IT Web, an investment company related to SiteGround, co-founder and CEO Boyan Ivanov told inventures.eu. The specific amount of the funding was not disclosed, but what is known is that the new investor is now a “low minority” shareholder.
With a current team of seven people, Ivanov said “we are looking to double it in the upcoming months” and the funding will be used to reach a “large scale and high performance deployments”. “This deal not only gives us the financial muscle to drive our sales and marketing effort but also solid partners with extensive complementary experience in the IT industry”, he added.
Tenko Nikolov, CEO of IT Web, also seems to have found a good match in StorPool. “With StorPool companies will be able to achieve performance and scalability currently unimaginable when it comes to storing big amounts of data,” he said in a press release.
Ivanov together with Yanko Yankulov and Boyan Krosnov originally started working together on website protection software when they realised what the market actually demanded and they reoriented towards data storage. The three founded StorPool in 2011 and bootstrapped for a year until they received their first investment in a seed round. It was LAUNCHub that backed the project, which even though currently in beta version, seems to have gained a competitive advantage on the market due to its reliability and high performance.
Special thanks to the team of LAUNCHub for pointing us to this story.