Tuesday, October 7, 2014

SolidFire Raises $82 Million for Flash Storage

SolidFire, a start-up based in Boulder, Colorado, closed $82 million in Series D funding for its all-flash storage systems.

SolidFire said its revenue grew over 700 percent in 2013 and has increased over 50 percent quarter over quarter in 2014. Its customer base is approximately a 50:50 service provider/enterprise.

SolidFire also announced the expansion of its flagship SF Series product line, unveiling two new storage nodes that represent the third generation of SolidFire hardware to be released since the platform became generally available in November 2012.

The latest investments bring the company's total funding to $150 million. New investor Greenspring Associates led the round along with a major sovereign wealth fund, with participation from current investors NEA, Novak Biddle, Samsung Ventures and Valhalla Partners.

“Just as flash has disrupted the legacy disk storage market, SolidFire continues to disrupt the all-flash array market by delivering a storage platform that goes far beyond the basics of raw flash performance,” commented SolidFire’s Founder and CEO Dave Wright. “Additional funding allows us to continue to extend SolidFire’s technical advantages over the competition and will deepen our sales, marketing and channel enablement to meet the growing global demand for SolidFire’s leading all-flash storage architecture.”

http://www.solidfire.com

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