Private Equity Fund Backs Edge Computing Provider StorMagic

Private Equity Fund Backs StorMagic

Technology continues to be disrupted by innovative solutions, but one area in particular stands out: edge computing. According to global IT

investment bank STL Partners’ recent report on this industry – over $8 billion invested since 2013 alone! – shows its increasing recognition among market forces.

As demand for data increases, many new solutions will need to store it at the edge. This requires them to manage massive amounts of information in real time – something edge computing excels at doing. Current systems often send their data off to be analysed in the cloud which slows down processes and adds cost; edge computing provides a solution by enabling systems to perform this analysis directly from their sources.

Palatine Growth Credit Fund, which is backed by UK mid-market private equity investor Palatine, recently made its inaugural investment to fast-growing Bristol edge computing provider StorMagic for an undisclosed sum. The deal will support StorMagic’s continued growth; StorMagic provides organizations of all sizes the ability to store, protect and manage data at the edge. Recently it introduced SvHCI which can save customers significant costs over VMware or Microsoft solutions.

Palatine Growth Credit Fund recently made its inaugural investment since closing its final close in May, the Palatine Growth Credit Fund has completed a transaction that serves its intended purpose of supporting fast-growing B2B venture capital-backed companies with strong year-on-year revenue growth and with reduced equity dilution for existing shareholders.

StorMagic was established in 2006 to offer low cost, high availability software-defined virtual storage to SMBs and edge computing environments at an economical cost. Their “Forever Data” solutions use various technologies that combine for unrivalled freedom, control, visibility and access for mission-critical file data at scale; including Qumulo which scales to hundreds of petabytes as well as CTERA which provides enterprise class file services at remote sites or branch offices.

Healthcare, manufacturing, retail and telecommunications sectors all rely on solutions offered by this firm for data processing at source quickly and accurately allowing businesses to respond swiftly and accurately in real-time to business events. Furthermore, their products claim they can help companies reduce IT costs by eliminating resource-intensive cloud solutions as well as data storage expenses and infrastructure footprint.