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Hive-IO Completes Series B Funding with Investment from Citrix Systems, Inc.
Hive-IO, a fast-emerging leader in software-defined infrastructure, today announced it has completed its Series B Round of financing led by Rally Ventures with Citrix Systems, Inc., Osage Venture Partners (OVP), and El Dorado Ventures participating.

The Series B Round financing enables the company to accelerate its product development as well as continue to build out its operations, and sales and marketing infrastructure to meet its strong customer demand for its software-defined datacenter solutions. The Series B builds on an exceptional year for Hive-IO, which has seen a significant increase in strategic partnerships, large customer wins, key executive appointments, and the purchase of Atlantis Computing's technology assets.

"Hive-IO's solution is well timed with the growing need for VDI and software defined datacenter solutions and evidenced from our over 500 customers" stated Joe Makoid, CEO, Hive-IO. "We believe the market will continue to move toward hyperconverged solutions."

"At Citrix we strive to identify investments that are poised to capitalize on changes in technology that are complimentary to the Citrix ecosystem," said Andy Cohen, VP, Corporate Development and Strategic Investments. "Hyperconverged Infrastructure is already changing the data center market, and Hive-IO has the technology and team to help drive that change."

Hive-IO offers a complete hyperconverged software solution that reduces storage needs, removes vendor sprawl and provides unparalleled security. Hive-IO can be delivered on-premise through a managed services provider.

"We're excited to work with our investors and partners to accelerate the development of our technology and customer adoption," concluded Makoid. "This investment will enable us to advance our vision of making Hive-IO a dominant solution in the growing HCI and VDI markets."

As part of the funding, Nate Lentz, Managing Partner at OVP joined the Hive-IO Board of Directors.

Published Thursday, October 12, 2017 1:26 PM by David Marshall
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