Software-defined storage startup Hedvig today closed a $21.5 million Series C with new investments from Singapore-based EDBI and Hewlett Packard Pathfinder, Hewlett Packard Enterprise’s (HPE’s) venture program.
Existing investors Atlantic Bridge Ventures, True Ventures, and Vertex Ventures also contributed to the round, bringing the company’s total funding to $52 million.
Since its official launch in 2015, the company has spent its time capturing customers in Europe, North America, and the Middle-East as well as proving its business model. However, it has seen a significant increase in requests from the Asia-Pacific market and plans to use the Series C to pursue that market and expand on existing ones, said Rob Whiteley, VP of marketing at Hedvig.
EDBI will help the startup increase its presence in the Asia-Pacific market and will also be adding more sales and engineering support in Singapore.
Hedvig’s Distributed Storage Platform deploys in standard commodity servers, aggregates the capacity across servers, and exposes it to applications as a standard tool.
What is unique about the platform is that “each application is able to specify its own unique storage policies,” Whiteley said. “What one application needs could vary widely from another, and we expose them as a set of programmable policies so each application is capable of provisioning its own underlying storage at the application level.”
Hedvig plans to offer a more bundled version of its platform for enterprise customers, which is attractive to its new investor HPE. In addition to Hedvig’s own software, the bundle will include a server partner’s hardware and any additional orchestration software that might be needed. Although Hedvig claims to have its software certified running on all the major flavors of servers, HPE sees it as an opportunity to bundle it with their own, Whiteley said.
Hedvig’s founder and CEO Avinash Lakshman comes from Amazon and Facebook where he specialized in building large web-scale systems like Dynamo and Cassandra. After his time building these large storage systems, Lakshman took the same compute techniques, and created a more general purpose storage platform, thus Hedvig.
Most of the company’s customers are in the financial sector, and one of its biggest customers is BNP Paribas. Hedvig is based in Santa Clara, California, and has about 50 employees.