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NGD Systems Completes Series B Financing
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NGD Systems, the leader in Computational Storage, completes its Series B round of
financing to continue development and marketing of its Intelligent Storage Products
Irvine, Calif. – February 13, 2018 – NGD Systems, Inc. announced today the completion
of Series B round of financing with $12.4M. The round was led by new investor Partech
Ventures with participation from Orange Digital Ventures. Existing investors Alcor Micro
and BGV (Benhamou Global Ventures) also participated in the round. In addition,
company has received a $4M credit facility from SVB (Silicon Valley Bank).
“NGD Systems is very pleased to announce the closing of our B-Series round,” said Nader
Salessi, President and CEO of NGD Systems. “We see the strong participation of both our
existing investors and our new lead investor as validation of both our technology, and
explosive market opportunity.”
The proceeds will be used for strategic growth initiatives, including the acceleration of
go-to-market activities, continued innovation of the company's technology,
and migration of its advanced 14nm SSD controller to mass production.
The new round of financing brings NGD's total capital investment to date to $26M.
“The new application architectures are increasingly requiring the capability to gather
and process data at the edge of the cloud rather than send everything for central
processing,” said Reza Malekzadeh, General Partner at Partech Ventures. “We believe the
team at NGD Systems has the right expertise and experience to deliver this new
generation of Intelligent Storage devices and their progress to date has been
“We are extremely pleased to see further validation of our initial investment thesis from
a strong syndication led by Partech ventures” said Amir Nayyerhabibi, Chairman of the
Board of NGD Systems and partner at Benhamou Global Ventures. “We believe the new
paradigm shift created by NGD Systems will impact a wide array of industry applications
such as AI, cloud computing, and content delivery.”
“NGD Systems’ in-situ processing approach revolutionizes the deployment of
applications that today require huge clusters of expensive multi-socket servers with
large amounts of RAM. When combined with high capacity and low power consumption,
the result is significant cost, footprint, and power savings.” said Mike Heumann
Managing Partner at G2M Research a market research analyst specializing in NVMe
"We're excited to expand our partnership with NGD Systems in support of their growth
and expansion," said Derek Hoyt, Managing Director at Silicon Valley Bank. "Our
primary objective is to provide the right financing, connections and global services to
help the NGD Systems team move their business forward quickly."
About NGD Systems
Founded in 2013 with HQ in Irvine, Calif., NGD Systems (formerly NxGnData) is a
venture-funded company focused on creation of new category of storage devices that
brings computation to data. NGD has designed its advanced proprietary controller
technology which deploys patented Elastic FTL algorithm and Advanced LDPC Engines
to provide industry leading capacity scalability. The controller also deploys the patented
In-Situ Processing technology to enable Computational Storage capability. The company
is led by an executive team that helped drive and shape the flash storage industry, with
decades in leadership positions with storage companies such as Western Digital, STEC,
and Memtech. Learn more about us and our products at www.ngdsystems.com.
About Partech Ventures
Founded in 1982 in Silicon Valley, Partech Ventures is a global investment firm with a
team spread across offices in Paris, Berlin and San Francisco. Most Partners have been
entrepreneurs themselves or have held management positions within tech companies.
The partnership acts and invests as a single team, helping entrepreneurs build fastgrowing
tech and digital companies addressing large markets across multiple
continents. Partech Ventures partners with entrepreneurs at the seed (Partech
Entrepreneur), venture (Partech International) and/or growth (Partech Growth) stages.
Companies backed by Partech Ventures have completed 21 initial public offerings and
more than 50 major M&A transactions with leading international companies. Since
2012, the team has built a pioneering business development platform fostering
synergies and business relationships between entrepreneurs and strategic partners. For
more information visit www.partechventures.com and follow @partechventures.
About Benhamou Global Ventures
BGV is an early-stage venture capital firm with deep Silicon Valley roots, with an
exclusive focus on enterprise technology opportunities in global markets. BGV currently
has 25 active companies in its portfolio. The BGV team of 8 investment professionals
has successfully built and implemented a cross-border venture-investing model with
companies from Israel, Europe and Asia. Eric Benhamou, former chairman and CEO of
3Com, Palm and co-founder of Bridge Communications, founded the firm in 2004.
Comprised of an experienced partnership team of global operating executives and
investors, BGV is often the first and most active institutional investor in a company and
has a powerful network of technical advisors, executives and functional experts who
actively engage with its portfolio companies. The company has offices in Palo Alto,
California and Tel Aviv, Israel. For more information: visit
About Orange Digital Ventures
Orange Digital Ventures detects and supports early-stage start-ups. Endowed with a
budget of 20 million euros for the first year, Orange Digital Ventures finances start-ups
that are transforming the telecommunications and digital sectors with innovative
solutions, disruptive technologies or through the invention of new business models in
the form of minority shareholdings. Orange Digital Ventures supports start-ups focused
on new connectivity services, corporate cloud and data services, payments and the
internet of things. It supports start-ups worldwide. www.digitalventures.orange.com
“About Silicon Valley Bank”
For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their
investors move bold ideas forward, fast. SVB provides targeted financial services and
expertise through its offices in innovation centers around the world. With commercial,
international and private banking services, SVB helps address the unique needs of
innovators. Learn more at www.svb.com” .
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