Buurst today announced a $5 million investment round and a new pitch to companies looking to manage their data in the cloud.

Buurst was previously known as SoftNAS, a 8-year-old startup with offices in Bellevue, Wash., and Houston. Its customers include companies such as Samsung, Halliburton, T-Mobile, and others that leverage AWS and Azure cloud infrastructure.

The company announced the new funding and name change, as well as a revamped business model that charges customers based on data performance required, not storage needs.

“Our competitors have migrated their traditional licensing models of charging you by the GB or TB for your data,” said Buurst CEO Garry Olah. “We think there’s a better way. At Buurst we never charge you for the amount of data you have, only the performance level you require.”

Buurst works with a variety of tech partners to help customers migrate and store their business data in the cloud.

“We are committed to enabling the best data performance with the best cloud economics,” Olah said.

The 55-person company has raised $35 million to date, primarily from family offices. Olah and Buurst CMO Alexander Rublowsky are based in the Seattle area. Olah joined Buurst last year after stints with Prime Foray, GoodData, Vedify, and Coho Data. The company’s chairman is Vic Mahadevan, CEO of Dev Solutions and a former executive at NetApp.

Editor’s note: This story has been updated to reflect the company’s total funding to date.