Nirvanix Eyes Innovation, Sales with Third Funding Round
Enterprise-grade cloud storage provider Nirvanix has completed its Series C round of venture capital funding, giving the company a capital infusion of $25 million and bumping its total take to $70 million. New investor Khosla Ventures led the round, with participation from existing investors Valhalla Partners, Intel Capital, Mission Ventures and Windward Ventures. Nirvanix plans to use the investment to expand its engineering organization, speed delivery of its storage services and increase its worldwide sales and marketing reach.
Nirvanix styles itself as a “cloud storage services provider for enterprises with massive amounts of large unstructured content files,” and claims to be the only managed services provider offering public, hybrid and private cloud storage services with usage-based pricing. Its customers include Cerner Corp., IBM (NYSE: IBM), USC Digital Repository, National Geographic and Relativity Media.
“Our enterprise cloud storage focus has clearly resonated with customers, as demonstrated by the fact that we booked more revenue in Q1 of 2012 than nearly all of 2011,” said Scott Genereux, CEO of Nirvanix, in the press release. “Additionally, over the past year Nirvanix has secured more petabytes under management than the prior three years combined; deployed the largest private clouds in the world; and made significant market advances in the financial services, healthcare and media and entertainment sectors. Going forward we expect our growth trajectory to increase as we deliver new functionality for our battle-hardened enterprise services and expand our reach to customers across the globe — further demonstrating the broad applicability of our cloud technology.”
At the end of March, Nirvanix announced new direct connections to its Cloud Storage Network for the International Business Exchange (IBX) service in data centers run by Equinix (NASDAQ: EQIX), permitting its customers to make a private network connection between their IT infrastructure and the Cloud Storage Network in the same data center, thus giving them access to the Nirvanix Cloud File System platform.
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