Israeli data storage co Infinidat raises $95m

startup
startup

The Herzliya based petabyte-scale data storage solutions company has raised $325 million since it was founded in 2011 and has a $1.6 billion valuation.

Israeli petabyte-scale data storage solutions company Infinidat today announced that it has closed a $95 million Series C financing round at a company valuation of $1.6 billion. The round was led by Goldman Sachs Private Capital Investing (PCI) and with a major investment from Series B leader TPG Growth. The company has raised $325 million to date including $150 million in its Series B financing round in 2015.

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 Series A financing round. Infinidat has offices in 17 countries, is dual-headquartered in Waltham, Massachusetts and Herzliya and has 500 employees worldwide.

With several hundred enterprise customers adopting the InfiniBox platform and more than two exabytes (two billion gigabytes) of storage deployed globally, Infinidat has established itself as a new leader in the $40 billion data storage industry.

Yanai said, "We have broken every record for growth of a data storage company in a few short years by focusing on fundamentals: anticipating customers' needs, ignoring hype cycles and fostering an inclusive culture of innovation and engineering excellence."

Infinidat began selling its flagship InfiniBox product in 2014. Its early customers include several of the world's largest telcos, banks and cloud service providers, who deploy InfiniBox to consolidate large numbers of legacy enterprise systems onto a more efficient platform. Each InfiniBox system manages over 5 petabytes (5 million gigabytes) of data and provides industry-leading performance and reliability. Unlike traditional enterprise storage systems that rely on expensive flash hardware for performance, InfiniBox takes a software approach, using machine learning algorithms to extract very high performance and reliability out of low-cost hardware, including the same ultra-high capacity disk drive types typically employed by Google, Facebook and other hyperscale cloud operators for large-scale data storage.

Published by Globes [online], Israel business news - www.globes-online.com - on October 4, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Gil Shwed and Nadav Zafrir credit: Menash Cohen With new CEO Check Point beats analysts in Q1

Revenue rose 6.5% and GAAP net profit rose 5% in Nadav Zafrir's first full quarter at the helm.

Nadav Zafrir credit: Niv Kantor Check Point CEO: We'll reinvent cybersecurity for the AI age

In his first interview since succeeding Gil Shwed, Nadav Zafrir was speaking at the Globes TECH IL Conference.

Tel Aviv light rail credit: Yossi Cohen Rishon Lezion to finance Red Line light rail extension

The Rishon Lezion Municipality will pay for part of the extension by marketing land above the planned underground depot.

Intel Haifa development center credit: Shutterstock Intel to cut 20% of workforce - report

"Bloomberg" reports that new CEO Lip-Bu Tan will announce the layoffs this week.

Healthee team credit: Healthee PR AI healthcare costs management co Healthee raises $50m

Healthee’s benefits and care navigation platform empowers employees and employers to make the most of their health benefits.

Former Shufersal CEO Itzik Abercohen credit: Eyal Izhar Competition Authority summons former Shufersal CEO to hearing

According to the indictment, Shufersal and Itzik Abercohen allegedly made public statements through which he attempted to reach arrangements to raise prices.

Reco founders Ofer Klein, Gal Nakash, and Tal Shapira credit: Elegant Photographics Israeli SaaS security co Reco raises $25m

The Tel Aviv-based company has developed a comprehensive application discovery engine capable of identifying and classifying over 50,000 applications, and providing visibility into an organization’s SaaS ecosystem.

Tel Aviv Stock Exchange credit: Tali Bogdanovsky TASE outperforms global markets in 2025

Boosted by the strong results of Israel's banks, the Tel Aviv Stock Exchange has demonstrated impressive resilience to domestic and foreign upheavals.

Metro credit: Bar Lavi Can Hyundai fill Metro vacuum created by China's exclusion?

The South Korean giant is reportedly eager to enter Israel's infrastructure sector but may not have the resources to dig the Metro tunnels.

Hero 120SF loitering munition  credit: Uvision Israeli firms to arm Germany with suicide drones

UVision's partnership with Rheinmetall and IAI's partnership with MBDA will help equip the German Army with an arsenal of loitering munitions.

Cipia Vision Credit: Company website Cipia Vision lays off 50% of workforce

The financially troubled Israeli auto-tech company raised NIS 68 million on the TASE in 2021 at a company valuation of NIS 354 million.

Israir aircraft credit: Moni Shafir Israir gets green light for Tel Aviv - New York flights

The US Department of Transport has approved US-Israel flights for the Israeli carrier.

Mentee Robotics founders credit: Mentee Robotics Shashua's Mentee to begin production of humanoid robots

Exclusive: Amnon's Shashua's Mentee Robotics will begin serial production next month of robots for use in logistics centers.

Elbit mobile mortar shell launching system credit: Elbit Systems US military aid changes hit small Israeli defense firms

The reduction to zero for overseas procurement from US military aid and the cancelation of reciprocal procurement will hurt defense companies, which unlike IAI, Elbit and Rafael, do not have US subsidiaries.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Israel formulates measures to cut planned US tariff

Two delegations will fly to Washington for talks on the matter with proposals including cutting bureaucracy for US imports.

Ashkelon vacation home fetches unexpectedly high price

US buyers paid NIS 4.37 million for the 20th floor apartment overlooking the marina.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018