Herzliya Israel-based Iguaz.io isn’t yet saying exactly what it’s up to, but investors must like what they’re seeing.
The stealth-mode company, which says it’s rebuilding the framework for dealing with big data in a way that integrates information from numerous storage and processing platforms, has just raised $15 million in Series A funding led by Magma Venture Partners. Jerusalem Venture Partners also participated in the round, along with other, unnamed, strategic investors.
Iguaz.io was co-founded by Yaron Segev, the former co-founder and CEO of the flash storage company XtremIO, which sold in 2012 for $430 million to data storage giant EMC, according to the Israeli site Globes. One of XtremIO’s investors was Jerusalem Venture Partners.
Last year, International Data Corporation forecasted that the big data tech and services market will grow at a 26.4 percent compound annual growth rate to $41.5 billion through 2018, or about six times the growth rate of the overall information technology market.