Israeli flash storage co Kaminario raises $75m

Dani Golan Photo: PR

This latest financing means that the startup could be Israel's newest unicorn with a company value exceeding $1 billion.

Israeli flash storage company Kaminario today announced it has closed a $75 million financing round. This bringing the company’s total funding to $218 million since it was founded in 2008. The latest round was led by Waterwood Group with a mix of new and existing investors, including Sequoia, Pitango, Lazarus, Silicon Valley Bank and Globespan Capital Partners. The new capital will be used to accelerate go-to-market initiatives, expand Kaminario’s global presence, and fuel R&D.

Last month Israeli company Zirra, which uses AI to evaluate startups, estimated that Kaminario was worth $811 million. This latest financing must surely mean it is now a unicorn worth more than $1 billion. Kaminario was founded by CEO Dani Golan, Ofir Dubovi and Moshe Selfin. The company is headquartered in Needham, Massachusetts and has its development center in Yokneam, near Haifa.

Golan said, “Our strong business growth, cutting-edge technology and the all-flash market opportunity makes Kaminario very attractive to investors and partners alike. The role of data center is transforming as businesses continue to accelerate digital transformation and cloud adoption, and we are perfectly positioned to deliver agile storage solutions for today’s on-demand applications. This new funding will allow us to continue our global expansion and accelerate our innovation agenda to better serve our customers.”

With its built-for-flash, software-defined architecture, Kaminario is positioned to power on-demand applications, turn data into usable information and support SaaS businesses as they grow. Today, more and more IT organizations are turning to Kaminario’s all-flash platform for the scalability, performance and agility modern applications require. Kaminario is focused on delivering storage solutions for the always-on economy, whether the applications are delivered as SaaS, on-line services or private cloud - from retail and healthcare to finance and manufacturing.

Kaminario says it is redefining the future of datacenters with all-flash arrays that deliver the agility, scalability, performance and economics a datacenter requires to deal with today’s cloud-first, dynamic world and provide real-time data access - anywhere, anytime. Hundreds of customers rely on Kaminario K2 to power their mission critical applications and safeguard their digital ecosystem.

“With more and more companies shifting a lot of their application purchases from on-premise to cloud SaaS models, SaaS providers are seeing insane scale demands that completely destroy the traditional infrastructure paradigm,” said Steve Duplessie, founder and senior analyst at Enterprise Strategy Group. “Slow input-output (I/O) can mean the death of your business - as can the cost of over provisioning. Kaminario is in a perfect position to handle outrageous I/O demands without forcing providers to buy more than they need in advance.”

Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2017

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

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Dani Golan Photo: PR
Dani Golan Photo: PR
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