Parascale Picks Up $11M for Cloud Storage

By James Rogers, June 23, 2008

Startup Clinches Series A Funding and Re-Brands its Virtualization Technology

Software startup Parascale has grabbed $11.37 million in Series A funding to as it prepares to leap into cloud storage.

The funding, which involved Charles River Ventures and Menlo Ventures, underlines the growing momentum behind cloud services, which let users store and access data via the Internet.

The vendor’s CEO Sajai Krishan told Byte and Switch that today’s cash influx will be used to add the finishing touches to the vendor’s Parascale Cloud Storage (PCS) software, but would not say precisely when this will be released.

“We’re going to be announcing a product and signing up customers in the coming months,” he says. “We’re not calling out a launch date – [but] his [funding] is to market it and go through extensive testing.”

The Cupertino, Calif.-based vendor uses …

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