Caringo Receives $5 Million in Funding

Caringo Inc. has closed $5 million in a new series of funding. The investment, from private sources and two Texas institutional investors, will contribute to the expansion of the software company.

The company was founded in 2005 by industry innovators including:

• Paul Carpentier, CTO, known as the inventor of content-addressed storage (CAS);
• Jonathan Ring, who serves as president; and
• Mark Goros, CEO.

Caringo’s affordable, scalable storage software runs on industry-standard servers for the safe storage, management and distribution of the massive amount of digital assets challenging companies today.

According to Benjamin Woo, Program Vice President, Worldwide Storage Systems at IDC, "Object-based storage is evolving quickly as a significant technology as IT administrators are being challenged with reducing operational costs. Major OEMs have incorporated it including: EMC for Atmos, Dell for its new DX platform and NetApp with its recent acquisition of ByCast. Securing funding in this economic environment is further validation of the technology."  

"During an economically difficult time for many technology companies, when several vendors have scaled back or even gone under completely, this investment round is an endorsement that Caringo is on the right path to success and future growth," said Goros. "We look forward to a successful expansion phase thanks to this investment."

Caringo’s CAStor
Object-based software seamlessly scales from terabytes to petabytes using off-the-shelf, commodity server hardware from providers such as IBM, Dell, and HP, and dramatically lowers cost of ownership from acquisition through operations. Based on a ‘set it and forget it’ philosophy, CAStor automatically and dynamically balances load and storage matching usage patterns to node specifications. Data integrity, authentication and retention are built into the architecture for compliance and common sense information protection. CAStor, long considered a ‘disruptive’ product, and its companion technologies Content Router, Content File Server and CloudFolder, excel at storing, managing and accessing the vast amount of digital content generated by enterprises. They provide the necessary infrastructure to enable cloud storage and long-term archiving.  

Continuous data availability, geographically distributed replication, authentication and full lifecycle management are built into the architecture for flexible storage. Caringo recently introduced CAStor 4.0 that includes patent-pending power conservation technology, Darkive, that enables companies to set parameters and spin down disks, reducing CPU utilization.