Nvidia acquires SwiftStack Data Storage and Management Platform.
SwiftStack, a software-centric data storage and management platform that supports deployments in public cloud, on-premises, and edge.
SwiftStack recent launches focused on improving its support for AI, high-performance computing and accelerated computing workloads.
According to the company’s co-founder and CPO Joe Arnold, Building AI supercomputers is exciting to the entire SwiftStack team. Company couldn’t be more thrilled to work with the talented folks at NVIDIA and look forward to contributing to its world-leading accelerated computing solutions.
The two companies did not disclose the price of the acquisition, but SwiftStack had earlier raised about $23.6 million in Series A and B rounds led by Mayfield Fund and OpenView Venture Partners. Other investors include Storm Ventures and UMC Capita.
SwiftStack, which was founded in 2011, made an early bet on OpenStack, a huge open-source project intended to empower businesses with AWS-like management expertise in their own data centers. The company was one of the largest contributors to the Swift object storage platform of OpenStack, and provided a number of services around it, although it seems to have downplayed the OpenStack partnership in recent years as the success of that platform has fizzled in many verticals.
SwiftStack lists on its customer page the likes of PayPal, Rogers, the data center provider DC Blox, Snapfish and Verizon. Nvidia is a customer too. SwiftStack notes that an existing range of open source resources including Swift, ProxyFS, 1space and Controller will continue to be maintained by the team.
SwiftStack’s technology is already a key part of NVIDIA’s GPU-powered AI infrastructure, and this acquisition will strengthen what we do for you, according to Arnold.
On 6th march,2020, SwiftStack announced it has raised a $16 million Series B round led by OpenView Venture Partners, a company that specializes in working with B2B businesses, with the participation of existing investors Mayfield Fund, Storm Ventures and UMC Capital. It brings the total funding for SwiftStack to $23.6 million after its last year's $6.1 million round and previous seed investments.
