Burlywood Completes $10.6 Million Series A Funding Round

LONGMONT, Colo.–(BUSINESS WIRE)–Burlywood,
an innovator of flash-based storage for cloud data centers, today
announced that it has completed its Series A funding with proceeds
totaling $10.6 million. The money raised will drive strategic-growth
initiatives, accelerate go-to-market activities and support the
progression of Burlywood’s TrueFlash™ storage software solution towards
mass production.

The Series A funding round was led by Michael Jones and John Scarano
with participation from Acadia Woods Partners. Mr. Jones is an investor,
strategic advisor, and entrepreneur who founded (i) Structure which was
purchased by Infocrossing and subsequently WIPRO. He was also previously
the CIO of Level 3 Communications and Corporate Express.

Mr. Scarano is the co-founder and former COO of Zayo, the former Vice
Chairman of euNetworks, and was responsible for deployment of Level 3’s
original network; he is a current adjunct professor in CU’s graduate
engineering school and a serial investor in scale-up businesses in
several industries.

Acadia Woods Partners is a New York-based investment partnership that
focuses primarily on early-stage technology companies. Burlywood’s
initial startup and launch financing was funded primarily by Angel
investors.

“Burlywood closed a $10 million Series A funding round almost
exclusively from individuals, with the vast majority coming from
industry insiders,” said Jones. “Raising this amount of capital from
individuals is quite an accomplishment and is a testament to Burlywood’s
approach to re-inventing flash and accelerating business transition to
the all-flash data center. I’m confident Burlywood’s TrueFlash
technology is going to be disruptive to the storage industry by
improving the ROI of flash adoption. They will do this by delivering
meaningful cost reduction, increased performance and
application-specific functionality.”

Led by an expert team with decades of storage controller experience,
Burlywood has built an architecture that allows for rapid innovation and
flexible integration of customer requirements. With the introduction of
TrueFlash, Burlywood is providing the industry’s first modular flash
storage architecture that accelerates time to market of new flash
technology while delivering disruptive cost and performance benefits to
customers deploying cloud storage solutions, all-flash arrays, and
hyper-converged solutions.

“When it is time to search out funding opportunities, I think something
more important than simply finding a source of available cash is finding
people that you can truly partner with to help bring your company to the
forefront of your respective industry,” said Tod Earhart, CEO of
Burlywood. “Our investor base includes many experienced veterans in
major technology segments including storage, data centers, and large
scale network infrastructure who are very excited about our disruptive
approach to storage architecture and delivery. We are excited to have
investors that understand our opportunity and can help position us for
large scale success.”

About Burlywood

Accelerating the transition to the all-flash data center, Burlywood’s
patented TrueFlash™ software is the industry’s first modular
software-defined flash controller architecture designed specifically for
hyperscale data centers and cloud applications. The flexibility of
TrueFlash Software enables rapid innovation to match the pace of today’s
cloud storage evolution with an entirely different approach to flash
storage design, implementation, and procurement. Burlywood is powered by
a highly productive, expert development team comprised of executives
from companies such as HP, Western Digital, Hitachi, Micron and Intel.
Find out more about how Burlywood is allowing flash to be used as it was
intended at https://www.burlywoodtech.com.

Contacts

JPR Communications
Dan Miller, 818-798-1473

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