Monday, September 2, 2013

Pure Storage Raises $150 Million Pre-IPO

Pure Storage, a start-up based in Mountain View, California, last week announced $150 million in new funding to support its all-flash enterprise storage array strategy.

The Series E funding round was led by T. Rowe Price, Tiger Global Management and other public market investors, with participation by its previous venture capital investors Greylock Partners, Index Ventures, Redpoint Ventures, Samsung Ventures and Sutter Hill Ventures.

This bring Pure Software's total capital raised to date to $245 million.  The company said it is on-track for a future initial public offering (IPO).

Pure Storage offers all-flash enterprise arrays for high performance workloads, including server virtualization, desktop virtualization (VDI), database (OLTP, real-time analytics) and cloud computing.  The company's approach combines proprietary data deduplication and compression technologies with affordable multi-level cell (MLC) flash memory.

The company says that since releasing its flagship FlashArray to general availability (GA) in 2012 it has achieved over 50-percent consecutive quarterly growth.

"In 2009, we set out to build the next great storage company," said Scott Dietzen, CEO at Pure Storage. "Today, we are taking our most significant step yet toward realizing that goal. This landmark financing reinforces our position as the frontrunner in leading the transition from mechanical disk to flash memory in the data center – perhaps this decade’s most significant IT disruption. We are thrilled to have the strategic guidance of Frank Slootman and world-class public market investors, like T. Rowe Price and Tiger Global among others, to support us in this mission. 2013 has already proven to be an auspicious year for Pure Storage, with record growth on all fronts and our recipe for all-flash storage at the price of disk anointed us as the one to which our competitors aspire. Fortified by this pre-IPO funding round, we will continue to accelerate our global business. Expect even bigger things from Pure in the months and years to come."


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