Canada-based Coho Data was able to secure USD 25 million in its Series B round. Ignition Partners led the funding round for the startup. Andreesseen Horowitz, who invested in Coho Data's Series A round, also participated in the round. Proceeds of the most recent funding round brought the company's total funds raised to USD 35 million. As part of the transaction, Ignition Partners Managing Director Frank Artale will join the Board of Directors at Coho Data.
Coho Data provides storage solutions. Their appliances enable users to grow their storage capacity as they need it, which lead to lesser payments.
Coho Data Chief Executive Officer Ramana Jonnala told Arik Hesseldahl of AllThingsD, "Our idea was to create a scale-out solution. Because we use commodity components, it lets us do this at a lower dollar cost per gigabyte." Jonnala said its storage solution which could hold 190 petabytes would only cost USD 500,000. This would typically cost USD 1.5 million in standard storage setup providers.
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