Thursday November 14, 2019 0 comments
The investment brings total company funding to $50 million. Liqid said it recently doubled quarter-over-quarter revenue, with record profit, and a record number of customers and deployments of its comprehensive composable infrastructure solutions.
Liqid said it will use the funding for accelerated growth, increasing budgets for personnel in operations, sales, marketing, engineering, and other business-critical functions.
The funding enables Liqid to address the needs of an expanding number of industry verticals that benefit from software-defined adaptive architectures, the company said.
“Liqid brings a fresh, critical perspective to the old problem of data center resource inefficiency, delivering a powerful, adaptive platform to dramatically increase resource utilization and reduce operational footprints and associated costs,” said Stephen J. George, managing partner, Panorama Point Partners.
“We look forward to working with Liqid to amplify its value proposition and increase market presence, while improving customers’ architectural flexibility, time-to-market operations, and the speed at which IT organizations can support informed business decisions.”
“As traditional computing environments falter under the demands of AI-centric, dynamic applications driving economic expansion, Liqid’s innovation in composable infrastructure provides a comprehensive platform to optimize and efficiently architect data centers to address the evolving requirements of a data-rich world,” said Sumit Puri, Liqid CEO and co-founder.
“We are grateful to Panorama Point Partners and all our investors, customers, and partners for believing in the Liqid platform’s ability to deliver the foundation for an adaptive and agile data center to meet the rapidly evolving IT challenges of businesses across industry verticals.”