The News: UltiHash, a software-defined object storage platform, recently announced it secured $2.5 million in pre-seed funding led by Inventure. The UltiHash solution is focused on providing high-performance object storage while consolidating data through byte-level deduplication. More about the announcement can be found in the UltiHash press release.
UltiHash Raises $2.5 Million in Pre-Seed Funding
Analyst Take: A newcomer to the object storage market, UltiHash, recently announced it received $2.5 million in pre-seed funding. The funding was led by Inventure with additional contribution from PreSeedVentures, Tiny VC, Futuristic VC, The Nordic Web, and Antti Karjalainen, the Founder, and angel scout for Sequoia Capital.
UltiHash is a software-defined, S3-compatible, object storage solution that can be deployed on premises or in the cloud. UltiHash’s mission, and what makes it compelling as a solution, is to provide object storage that blends high performance with data consolidation. It achieves this with a byte-level deduplication technique. UltiHash claims it is “able to decrease companies’ storage needs by up to 50%” while publishing performance benchmarks that show a 50% performance increase on reads compared with Amazon Web Services (AWS) S3. More info on UltiHash’s performance benchmarks can be found on the UltiHash website.
The vision behind UltiHash is a culmination of a number of storage trends. The landscape of object storage has been shifting. While object storage will certainly continue to be deployed in its traditional role as an economic solution for archival and content repositories, it has also found a more performance-driven solution for primary storage and cloud native applications. Additionally, object storage will draw increasing interest from emerging AI development that requires both the scalability that object storage is known for, as well as the increased performance seen in some of the newer object solutions. And finally, concerns around sustainability and environmental, social, and corporate governance (ESG) are forcing IT organizations to consider the resources they are utilizing.
UltiHash appears to be emerging with a solution that addresses these concerns. It offers a flexible, hybrid cloud solution that promises high performance as well as increased data reduction. This type of solution may be well suited for cloud native apps and AI workloads. Additionally, the focus on data reduction may be a differentiator for the solution as it can help organizations reduce cost and meet their sustainability goals. While its still early days for UltiHash (the solution is currently in an early access demo), the vision for the solution is promising, and the team has now secured significant pre-seed funding to help them achieve it.
Disclosure: The Futurum Group is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of The Futurum Group as a whole.
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Author Information
Mitch comes to The Futurum Group through the acquisition of the Evaluator Group and is focused on the fast-paced and rapidly evolving areas of cloud computing and data storage. Mitch joined Evaluator Group in 2019 as a Research Associate covering numerous storage technologies and emerging IT trends.
With a passion for all things tech, Mitch brings deep technical knowledge and insight to The Futurum Group’s research by highlighting the latest in data center and information management solutions. Mitch’s coverage has spanned topics including primary and secondary storage, private and public clouds, networking fabrics, and more. With ever changing data technologies and rapidly emerging trends in today’s digital world, Mitch provides valuable insights into the IT landscape for enterprises, IT professionals, and technology enthusiasts alike.
