Parascale Raises $11.37 Million For Cloud Storage

Cloud storage provider Parascale has closed an $11.37 million Series A funding round led by Menlo Ventures and Charles River Ventures. The company, which was founded in 2004, primarily targets media and entertainment markets, but also offers platform support to clients in a number of other fields.

Parascale intends to use the funds on product development and to help market the upcoming launch of “Parascale Cloud Storage”, which it describes as “an application that aggregates disk storage on multiple standard Linux servers providing one highly scalable storage cloud, accessible via standard file access protocols.”

Cloud storage is becoming increasingly popular as corporations forgo building their own traditional server farms in favor of managed solutions like Parascale. Other players in this space include Amazon S3, GoGrid, and Nirvanix.