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Pure Storage now valued at over US$3 billion

Zafirah Salim | May 20, 2014
The all-flash enterprise storage company has raised US$225 million through a Series F funding round, which included contributions from leading investors.

California-based Pure Storage has recently closed a US$225 million Series F funding round, bringing the all-flash enterprise storage company to a valuation of over US$3 billion.

According to its media statement, the round included contributions from previous public market investors such as T. Rowe Price Associates, Inc. and Tiger Global and new investor, Wellington Management Company. It also included participation from prior venture capital investors Greylock Partners, Index Ventures, Redpoint Ventures, and Sutter Hill Ventures.

This new funding raised the company’s total capital to US$470 million, which will support the continued acceleration of its market course and international business expansion through increased investments in engineering, sales, marketing and channel partner enablement to meet the demand for their Pure Storage FlashArray.

The vendor also claimed that Pure Storage has achieved over 700 percent year-over-year (YOY) growth, and has consistently achieved 50 percent sequential quarterly growth over the past year. Additionally, it has been aggressively expanding internationally with the opening of new offices across four continents.

With Pure Storage’s focus on operating as a channel-centric organisation, channel productivity has increased threefold in the last year through a multi-tiered network of more than 200 partner organisations. They have also been recruiting industry veterans across sales and operations to help improve its global go-to-market infrastructure. This includes hiring Kevin Delane, who previously held executive leadership roles at IO and EMC, as its vice president of global alliances and business development.

“This financing at a $3 billion pre-money valuation is a huge milestone for Pure Storage,” said Scott Dietzen, Pure Storage’s CEO. "Yes, it reinforces the health and standout growth of our business to date, but more importantly, the disruptive potential of an all-flash array that costs less than disk going forward. In 2014, no one should be buying mechanical disk to run databases or virtual machines. Our additional funding ensures that many more businesses will get the ten-fold performance acceleration and power savings of Pure Storage.”

 

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