Pliops secures $100m in Series D funding as datacentre professionals continue to rethink storage architectures

Via GlobeNewswire for Pliops

Aug 19, 2022

SAN JOSE, California – Pliops, a leading provider of data processors for cloud and enterprise data centers, today announced that it has closed a $100 million Series D funding round, bringing total investment in the company to more than $200 million since its founding in 2017.

Led by Koch Disruptive Technologies (KDT) – with SK hynix, Lip-Bu Tan, Chairman of Walden International, and State of Mind Ventures Momentum, in addition to previous investors also participating in the round – this latest investment will be used to address the broad market opportunity for the innovative Pliops Extreme Data Processor (XDP). Pliops will continue to build out its strong semiconductor, hardware and software roadmap, while aggressively driving its vision of re-architecting the data stack and bringing ultra-scalability to data centers with customers and partners. In parallel, the company is streamlining its global operations and team of experts in recognition of a changing business landscape.

“Accessing and using your data efficiently is critical to business success – particularly in a world of exponential data growth and storage requirements,” said Eli Groner, managing director, Koch Disruptive Technologies. “Pliops brings novel solutions to this enormous industry-wide challenge that address real pain points.”

By reliably accelerating performance in existing and new data centers, the Pliops XDP extends potential to crunch, store, analyze and move data. Pliops helps companies get more from their growing data volumes and data center footprint, leading to reduced costs and energy consumption.

"As NVMe storage becomes even more critical for data-intensive applications and workloads in the data center, we continue to invest in innovative technologies that tackle bottlenecks in traditional infrastructure," said Jin Lim, Head of Solution Lab (SOLAB) at SK hynix. "Pliops technology is well-aligned with our storage, and we consider it an important tool and stepping stone toward next-generation storage systems that maximize the potential of data applications, including AI/ML and data analytics.”

Pliops continues to secure customers in a range of market segments – including global cloud service providers, enterprises and HPC – all of whom are seeking to accelerate and scale a wide range of data-intensive workloads.

“The ability to monetize data faster and get much more while paying much less is the core priority of every organization, especially in times of market volatility,” noted Uri Beitler, Pliops founder and CEO. “Our transformative product offers this exact unique capability, making it imminent that Pliops XDP will be the cornerstone of every modern data center. With the trust of our existing customers and partners, and our commitment to align company resources with the current economic climate, this funding round will accelerate our market adoption and help move us closer to becoming the market leader.”

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