imgres-8Austin-based infinite io announced it has completed $3.4 million in funding led by Chicago Ventures.

“We are very excited to be building a world-class enterprise software company here in Austin, Texas, where there is a wealth of talent to support our growth plans,” Mark Cree, CEO of infinite io, said in a news release. “The new funding will be used to address the needs of our growing customer base and to support our go-to-market partners.”

infinte io, founded in 2014, makes a network controller that allows companies to migrate inactive data to low cost public or private cloud storage. The company reports its technology can save companies on cloud storage costs by as much as 80 percent while providing easier access to the data.

“Our controllers are the first to allow IT managers to seamlessly integrate new storage technologies, such as cloud storage and flash memory, into existing environments with no changes to applications, storage systems, network file paths, file systems or the user experience,” according to infinite io.