NVMdurance announces $2.5 million in Series A funding
Irish technology company, NVMdurance, extending the life of solid state discs (SSDs), has today announced that it has completed a $2.5 million Series A round of financing. Existing investors New Venture Partners, ACT Venture Capital, Enterprise Ireland and NDRC have invested bringing total funding to $2.77 million.
NVMdurance provides software that is proven to make flash memory last longer by extending the intrinsic endurance of the NAND flash. NAND flash chips are used in many devices, including SSDs, laptops, tablets, mobile phones, GPS devices, USB drives and flash memory cards.
“The company was founded because a unique way of significantly improving flash memory endurance had been identified,” said Pearse Coyle, NVMdurance CEO. “We now have a number of clients committed to deploying our technology in SSDs and flash arrays, two of which have provided revenue advances alongside this Series A funding round. We will announce these clients during 2016. This new funding will help NVMdurance expand its sales and marketing efforts as well as grow our engineering team.”
As flash manufacturers continue to pack more bits onto ever smaller storage cells, the endurance (wear-out) issue for NAND flash storage users becomes an ever greater issue. This trade-off between memory cost (per GB) and endurance means that the endurance problem is never really solved – endurance improvements simply reduce the cost of the flash.
NVMdurance software compounds the endurance gain currently being achieved by other means (e.g. ECC or overprovisioning). The power behind NVMdurance is the use of offline machine learning software that automatically learns the optimal parameter settings for the NAND device.
“The Series A financing builds on an exceptional year from NVMdurance which saw its first customer announcement – with Altera (now part of Intel)” said Steve Socolof of New Venture Partners LLC. “The NVMdurance software increases the number of program-erase cycles in Altera’s FPGA-based storage reference design by up to 7 times compared to existing NAND flash implementations.”