Pavilion Data, a startup in the NVMe-over-Fabrics all-flash array industry, ceased operations in October 2022, resulting in the layoff of 96 out of its 100 employees—a 96% reduction. The company, which had raised $45 million and was founded in 2014, faced insurmountable challenges including failed attempts to secure additional funding or find a buyer. External factors like the COVID-19 pandemic, supply chain disruptions, inflation, and economic uncertainty compounded internal issues such as frequent CEO turnover. With cash reserves depleted, investors decided to shut down the company, marking the end of the last major startup in its sector. Operations officially ended on October 12, 2022, with minimal severance offered to employees due to the company's financial state.
