Lightbits Raises $42 Million in Growth Capital; Plans to Scale Up its Cloud-native Data Storage Platform

One of the best things about a human life is how we can always make it better. This, in particular, opens up new horizons for us over time, therefore helping us achieve milestones that once seemed far out of our reach. Now, while we have tried scaling up our lives using many different avenues, we cannot really deem an avenue more important than technology. You see, with technology running the show, we didn’t just have an unprecedented skill-set at our disposal, but we also had something that could impact each and every area on our spectrum. By making the most of the said dynamic, we’ll instigate a full-blown transition, and consequentially, become a tech-driven society. Nevertheless, even after achieving so much from an overall standpoint, human beings won’t stop looking for higher altitudes. This has remained evident under all situations, and if anything, a recent funding should only bolster it further.

Lightbits, the first software-defined NVMe® data platform for any cloud, has successfully secured over $42 million in growth capital. Led by Atreides Management, the raise was conceived also with the contribution from various other investors, including J.P. Morgan, Valor Equity Partners, Eyal Ofer’s O.G. Tech, founder and chairman of Pacific Century Group (PCG), Richard Li, and more. According to certain reports, Lightbits will use the newly-raised cash to fund the development of its cloud platform. Since starting out back in 2016, the company has worked rather extensively to revolutionize the way we view data storage in cloud. Lightbits’ disaggregated, composable block storage would end up working alongside all cloud technologies such as private clouds, public clouds, and edge clouds. Talk about why you should use Lightbits, the company’s platform is pretty much known for simplifying storage by eliminating any need of a Fibre Channel or RDMA. It does so using a special network interface and cards. In fact, the flexibility and sheer convenience found within Lightbits’ platform will also turn it into an attractive prospect for big-scale TCP and IP networks.

“There is tremendous pressure on Cloud Service Providers (CSPs) and IT Organizations with private clouds to profitably keep pace with growing business demand while providing fast, resilient, and secure services,” said Avigdor Willenz, Co-Founder and Chairman of Lightbits Labs. “Lightbits invented NVMe/TCP and has led the way in defining a cloud-native storage architecture that is simple, agile, and efficient. Delivering these benefits significantly improves the competitive advantage of our enterprise customers.”

At the moment, Lightbits is serving various Fortune 1000 companies, with the company’s clientele notably stretching across world’s largest financial services companies, e-commerce providers, webscalers, and CSPs. In case this doesn’t offer big enough of a testimony, we can even look at the honors bestowed upon the company. In 2022 alone, Lightbits has picked up a host of laurels like Data Storage Innovation Of The Year, BIG Innovation Award, Tech Trailblazer in Storage, Big50 Startup, and Coldago Research GEMS 2022.

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