Advanced enterprise-class storage solutions developer Infinidat today announced it has raised $150 million in a financing round led by US equity firm TPG Growth. Infinidat said that this second round of funding brings the company’s total funding to $230 million, and Infinidat's company value is $1.2 billion. A TPG representative will join Infinidat’s board of directors.
The company was founded in 2011 by CEO Moshe Yanai to create solutions for the most pressing information storage problems facing today’s enterprises. Yanai is a storage industry pioneer with a track record of developing storage architectures, including the industry standard storage products that Infinidat challenges. he reportedly invested much of the $80 million in the company's previous financing. Infinidat is headquartered in Needham, Massachusetts and has its development center in Herzliya Pituach.
Yanai said, “Infinidat is on the verge of revolutionizing the enterprise storage market with a dramatically simpler, more cost-effective storage solution offering unparalleled performance, capacity, and reliability. The Infinibox storage solution has already been customer-proven and is in production in multiple Fortune 500 companies around the world.”
The explosion of data is dramatically increasing the cost, scale and operational complexity of most storage systems today and is forcing businesses to make trade-offs between what data they keep on line, the level of data protection they employ, and how much they are willing to spend on equipment, data center space, power consumption, and personnel.
Infinidat is addressing these issues by delivering advanced, high performance enterprise-class storage at a disruptive price point. By providing multi-petabyte capacity in a single rack, along with continuous data protection and rich storage automation, Infinidat is changing the paradigm of storage efficiency and productivity while reducing operational overhead, complexity and cost.
TPG's John Marren said, “TPG has a long history of investing in enterprise IT, and we think Infinidat is one of the most exciting companies in the industry. Infinidat has already proven the power and resiliency of its technology in numerous customer engagements, and we are confident this company will become a game-changing force in the enterprise storage market.”
Published by Globes [online], Israel business news - www.globes-online.com - on April 29, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015