Kaminario Doubles Fundraising Goal as Flash Storage Market Grows
#Kaminario Inc., a #flashstorage company that develops its products in Israel, closed a fundraising round of $75 million — nearly double the expected amount — and will use the money to expand in Asia and Europe and boost technology development to gain market share. The Needham, Massachusetts-based company competes with multinational giants such as #DellTechnologies Inc. and #HewlettPackardEnterprise Co., and counts #Priceline Group Inc., Kenneth Cole Productions Inc. and #Telefonica SA among its customers. Kaminario says its technology, which delivers storage solutions for online retail, gaming and finance companies, is luring customers away from the larger companies. “We are growing exponentially, doubling the company’s top line in the past four years,” founder and Chief Executive Officer Dani Golan said in a telephone interview. He attributed the company’s success to building flash storage “from the ground up,” instead of adding it to legacy products as competitors did.