Follow The Money: 10 Recent Tech VC Investments To Watch in December


Headquarters: Palo Alto, Calif.

CEO: Boaz Palgi
New Funding: $12 million
Round: Undesignated
Backers: Greylock IL Partners, Norwest Venture Partners, others

ScaleIO, which came out of stealth mode in early December, has a technology it calls Elastic Converged Storage that it said eliminates the need for traditional SANs by tying together the storage capacity of multiple servers. How it works, according to Palgi, is that customers can build a virtual SAN on the servers they use for their business applications and don't need to buy SANs, switches or host bus adapters.


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