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Avere Systems Adds $17 Million Venture Capital

Monday, August 9, 2010 5:36:00 AM PDT | VentureDeal Staff
Pittsburgh, Pennsylvania  --  Storage technology company Avere Systems has secured $17 million in its second round of institutional venture capital investment.

Avere Systems says that it provides "Demand Driven Storage solutions that dynamically organize data in response to business demand."

Tenaya Capital led the round, which also included previous investors Norwest Venture Partners and Menlo Ventures. The company said it would use the funding proceeds to expand production and distribution.

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