Flash Storage manufacturer SolidFire Inc. has secured $82 million in a new Series D funding round led by Greenspring Associates, Silicon Valley Bank and a major sovereign wealth fund. There was participation from existing investors NEA, Valhalla Partners, Novak Biddle Venture Partners and Samsung Ventures.
This round has taken the total funding for the company to $150 million, which is more than what is typically raised by public storage companies, wrote SolidFire CEO and founder, Dave Wright, announcing the funding.
SolidFire will leverage the new money to continue growth, which Wright claims was over 700% last year and over 50% quarter-over-quarter this year.
The company believes that the shift from spinning disk to flash for primary storage and the the shift from a siloed, hardware-oriented data center to a shared, software defined data center (SDDC) has seen SolidFire deliver “strong execution” over the past year towards capitalizing on this change.
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“What makes SolidFire truly unique is our ability to not only deliver flash performance for today’s applications, but to provide customers with a platform that lets them tackle the biggest challenges of that next wave,” explains Wright.
Flash technology allows integration with aspects of the cloud, in which data is accessed via the Internet rather than from on-site hardware. Adoption of cloud technology is becoming norm with companies because of its flexibility and lower costs compared with older methods.
“Our ability to leverage flash at cloud scale, that ultimately is what sets us up for long-term success,” Wright told Reuters.
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(Image Credit: Dominik Bartsch)