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