Santa Clara, California  --  Flash storage technology company E8 Storage has landed $12 million in its second round of institutional venture capital investment.

E8 is developing next-generation flash storage for the enterprise and software-defined cloud environment.

The company says its products will deliver 10 times the performance for half the cost existing technologies.

Accel Partners led the round, which included The Magma Venture Partners and Vertex Venture Capital.

The company said it would use the funding to launch its next-generation flash storage product.