Nyriad Raises $28 Million

Nyriad Inc. raised an additional $28 million of funding, primarily from existing investors.

The funds will be used to accelerate the company’s global go-to-market and engineering efforts for its reimagined storage solution based on a new architecture that redefines how data is stored and managed.

“Nyriad will deliver a breakthrough data storage solution,” said Guy Haddleton, chairman and lead investor. “Equally important, the company’s vision is backed up by a seasoned executive leadership team, exceptional engineering talent, and a strategy that focuses on delivering business value for customers. That this round of funding is coming almost entirely from existing investors is a strong statement in our confidence in Nyriad’s ability to execute and succeed in the marketplace.”

Nyriad’s new architecture combines the power of GPUs and CPUs to deliver a combination of performance, resilience, and efficiency, enabling massive amounts of data and multiple data types to be managed in a single storage system that is simple to deploy, operate, and scale in a cost-effective way.  

“Storage solutions must empower businesses to grow, adapt, and stay competitive in a data-driven world. Nyriad is on a fast track to provide businesses with these breakthrough capabilities,” said Herb Hunt, CEO. “We’re reimagining storage with an architecture that delivers an entirely new way to control and manage storage devices at scale. This new round of funding ensures that solutions based on our new architecture will be available to customers early in 2022.”

In October 2020, the company completed a financing of $8.3 million to fund development and prepare its entry into the US market. In September 2021, Nyriad announced it had relocated its global headquarters to USA from New Zealand.

The recently closed funding will also be used to expand the company’s capabilities and resources in USA and WW.