Innovations such as software-Defined Storage (SDS), hyper-converged infrastructures (HCI), and blockchain have investors flocking to enterprise storage startups, and this market shows no signs of slowing down.
Collectively, the 10 startups featured in this roundup have raised more than $736 million in VC funding. This total is even more impressive when you factor in two startups not included in that calculation. One of them is entirely self-funded, while the other has a unique business model and an equally unique source of non-VC funding: an ICO, or Initial Coin Offering.
According to research firm IDC, the worldwide enterprise storage market expanded by 13.7 percent year-over-year to just under $13.6 billion in the fourth quarter of 2017. Other research firms believe the growth rate will accelerate in the near term. Research and Markets, for instance, predicts that one fast-growing segment of the overall enterprise storage market, cloud storage, will expand to become a $92.5 billion market by 2022.