A new Minneapolis startup operating in the data storage space has VC funding and decades of domain expertise behind it.
Parsec Labs flagship product provides storage optimization hardware & software systems for enterprise Network Attached Storage (NAS).
“We have developed a product that accelerates data access to existing NAS systems while reducing storage needs. It has the potential to be six times faster, and at the same time saving 60% of storage space by compression and de-duplication,” says Founder and CEO Walter Angerer, who intends to share more of the product details over the coming months.
Parsec was founded earlier this year by Angerer who relocated to Minnesota 1999 from Austria when Siemens acquired a division of Control Data. From there, he was in appliance backup with Veritas/Symantec and then data protection with Quest Software before it was acquired by Dell for $2.4b.
In fact, Parsec’s backing comes by way of former Quest Software CEO Vinny Smith’s $150-$250m fund. The company has six employees and is hiring for an Associate Software Engineer.
Parsec Labs is targeting midsized companies (200-10,000 employees & 10+TB NAS) for alpha testing and has intentions of going to market in the first quarter of next year.