March 5, 2019

RackTop secures USD 15 million Series A funding to accelerate the growth of cyber converged data

The investment seeks to provide security and storage prowess to large volumes of enterprise and business sensitive data.

Data security provider RackTop have raised USD 15 million in Series A round of funding to accelerate the growth of their Network Attached Storage (NAS) prowess. With this investment, RackTop aims to provide enterprises with a storage platform that facilitates business operations, improves productivity, reduces cost and fortifies security.

According to RackTop, enterprises are looking at different ways to secure a large volume of data across traditional as well as cloud environments. They say that these enterprises need to build, store and run applications that help them accelerate workloads.

By raising USD 15 million from Edge Ventures and Grotec Ventures, RackTop say that they will be allowing enterprises to store and secure applications by expanding their NAS capabilities. They believe that they will help enterprises belonging to all kinds of sectors with their storing large volumes of data at ease.

Eric Bednash, co-founder and CEO of RackTop Systems believes that while it is complex and costly for enterprises to manage large data volumes, it is even more time consuming to address persistent cyber threats. Hence, to counter this obstacle, he says that RackTop have rasied a huge round of Series A funding and solve these complexities.

Market analysts say that RackTop’s funding will give a boost to other NAS providers in the market. This investment can remind one of Nasuni’s USD 25 million funding by Telstra Ventures, to expand globally.