MemVerge Closes $24.5 Million Series A, Unveils World's First Memory-Converged System
A new data infrastructure that eliminates the boundary between memory and storage.
On April 2, 2019, MemVerge, the inventor of Memory-Converged Infrastructure (MCI), announced the completion of a $24.5 million Series A funding round. Investors included Gaorong Ventures, Lightspeed, Northern Light Venture Capital, JVP, and LDVP. MemVerge co-founder and CEO Charles Fan said the new capital would be used to expand the company's engineering, sales, and marketing teams in Silicon Valley, increase R&D investment, and further advance MCI technology.
Alongside the funding announcement, MemVerge officially released the beta version of the world's first memory-converged system, addressing the challenges of the machine-generated data era. The MemVerge memory-converged system delivers:
- A new data infrastructure that eliminates the boundary between memory and storage.
- 10x memory capacity and 10x data I/O speed compared to the most advanced storage and compute solutions available today.
- Powerful support for the most demanding AI and data science workloads — both present and future — at memory speed, opening new possibilities for enterprises in data-intensive computing.
Digital transformation is unfolding globally. More than 2.5 quintillion bytes of data are generated daily at extreme velocity across AI, machine learning, IoT, and data analytics applications, creating enormous challenges for data science teams at internet giants and large enterprises. To date, even the world's most data-centric companies have been forced to choose between storage speed and greater compute memory capacity.
To solve this problem, MemVerge invented Memory-Converged Infrastructure (MCI) for enterprise AI and data science use cases. The MCI system is built on Intel's new Optane DC persistent memory technology — an entirely new medium that eliminates the hardware-level barrier between memory and storage, enabling AI, IoT, and real-time data analytics tasks to run flawlessly at memory speed without system crashes and other common issues.
Compared to the most advanced storage and compute solutions available today, MemVerge's MCI system provides 10x memory capacity and 10x data I/O speed, helping enterprises achieve both higher memory capacity and faster storage speed simultaneously — eliminating the two biggest bottlenecks in machine-generated data processing. This new infrastructure is critical to the success of data-intensive applications. Industry leaders including LinkedIn, Tencent, and JD.com are already using MemVerge's MCI system to train AI models faster and successfully run more predictable complex workloads with fewer resources.
MemVerge Founding Team
MemVerge was co-founded by Dr. Charles Fan, former senior VP at VMware and senior VP at EMC; Shuki Bruck, co-founder of XtremIO and Rainfinity and Gordon Moore Professor at Caltech; and Dr. Yue Li, Caltech postdoctoral scholar. The team is a leading developer of all-flash and hyperconverged infrastructure (HCI) products worldwide.
"As more IT organizations look to leverage next-generation big analytics in a more real-time manner to drive better business optimization, existing storage technologies are clearly not meeting these performance requirements," said Eric Burgener, research VP at IDC's Infrastructure Systems, Platforms and Technologies Group. "Now that emerging persistent memory technologies are available from suppliers like Intel, it is inevitable that someone would design a purpose-built storage operating environment to run in persistent memory — and that is exactly what startup MemVerge has done. The company's Distributed Memory Objects (DMO) technology is positioned to meet the needs of next-generation data analytics workloads, delivering lower latency, more predictable performance at scale, greater scalable capacity, and higher efficiency and reliability."
"The explosion of machine-generated data creates tremendous opportunities for enterprises to capture actionable real-time insights. However, the massive generation of real-time data places extreme demands on current IT infrastructure — workloads can easily slow down or even crash. Until now, most enterprises have had to choose between faster speed or greater capacity," said Bin Yue, founding partner of Gaorong Ventures. "MemVerge is tackling this challenge head-on. The company has a tremendous opportunity to be first to market with a commercial memory-converged infrastructure system."
MemVerge Co-founder and CEO Charles Fan
"The transformation of the data center is long overdue," said Charles Fan, MemVerge co-founder and CEO. "By eliminating the boundary between memory and storage, our breakthrough architecture provides powerful support for the most demanding AI and data science workloads of today and tomorrow — at memory speed — opening new possibilities for enterprises in data-intensive computing."
About MemVerge
MemVerge, the inventor of Memory-Converged Infrastructure (MCI), is the first company in the world to eliminate the boundary between memory and storage, providing powerful support for the world's most demanding data-centric enterprises. MemVerge's MCI system leverages Intel Optane DC persistent memory and integrates seamlessly with existing applications. Compared to the most advanced compute and storage solutions available today, it delivers 10x memory capacity and 10x data I/O speed. Its unique Distributed Memory Objects (DMO) technology provides a logical convergence layer that utilizes Intel's new memory-storage medium, enabling data-intensive applications such as AI, machine learning, big data analytics, IoT, and data warehouses to run at flawless memory speed while achieving data consistency across multiple nodes. By providing large-capacity memory and sub-microsecond response times, MemVerge addresses the enormous challenge of the machine-generated data era: how to process massive, diverse data in real time and extract actionable information, handling both large and small files with equal agility. Enterprises using the MemVerge system no longer face downtime or sluggish performance due to performance bottlenecks, system crashes, or disk wear. They can train AI models faster, analyze larger data volumes, complete more queries in less time, and run complex tasks with fewer resources and greater predictability. MemVerge is headquartered in San Jose and is backed by investors including Gaorong Ventures, Lightspeed, Northern Light Venture Capital, JVP, and LDVP. Global innovation leaders including LinkedIn, Tencent, and JD.com are collaborating with MemVerge to advance AI and data science.
For more information, please visit www.memverge.com.
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