"We believe the company is well-positioned to capitalize on the tremendous growth happening in the virtualization market as companies realize the cost and efficiency savings of adopting virtualization more broadly across the enterprise," said Don Carson, President of RFA, in a statement.

And added to the $6 million in funding it previously secured with another $8 million investment from S3 Ventures and Techxas Ventures. The eDiscovery and information management company said it plans to use the funding to take advantage of potential $4 billion e-discovery market.

"StoredIQ's product offering is unique, because it provides a unified, easy to deploy platform that meets the compliance, eDiscovery and information management requirements in the enterprise, while contributing to immediate cost and risk reductions," said Christine Taylor, an analyst with Taneja Group, in a statement.