Caringo Receives $8.8 Million in Funding

caringoCaringo announced Thursday that it has received $8.8 million in additional funding.

The Austin-based company closed on its Series B round of funding and reports that so far the company, founded in 2005, has raised $33 million.

The company plans to use the funds for development, marketing and distribution of Caringo Swarm, software used to manage and store data.

“The additional funds raised in this tranche of our Round B funding will help us accelerate our product roadmap, expand in key vertical market segments and continue to invest in demand generation and awareness programs,” Jonathan Ring, Caringo CEO and Co-Founder, said in a news release. “Scale-out object storage is increasingly recognized as the best approach to providing organizations of all sizes with the massive scalability and reduced complexity that is needed in today’s data-intensive environments. Our investors understand this sea change and are helping us continue to deliver our market-leading technology to customers frustrated with their existing storage infrastructure.”

Caringo makes software that protects data and allows its customers to manage, organize and search that data at a massive scale. Its software, Caringo Swarm, lets its customers consolidate their files, find data easily and quickly and reduce storage costs. The company estimates customers can save up to 75 percent on storage costs using its software.

Some of Caringo’s customers include the Department of Defense, the Brazilian Federal Court System, City of Austin, Telefonica, British Telcom,, Johns Hopkins University and hundreds more worldwide.

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