Investment continues to flow into storage startups, with Tegile Systems the latest company receiving a major cash infusion, closing a $70 million Series D funding round. The new funding brings the company’s total capital raised to $117.5 million to date, and will be used to finance its global expansion and address the opportunity within the enterprise flash storage market space.
Three new investors, Capricorn Investment Group, Cross Creek Advisors and Pine River Capital Management, join existing investors August Capital, Meritech Capital Partners, Western Digital Corp. and SanDisk Corp. to fund the round.
“With a best-in-class product portfolio, an award-winning partner program, and numerous industry accolades, Tegile continues to set the bar for up-and-coming storage vendors,” said Dipender Saluja, MD, Capricorn Investment Group. “Tegile is transforming the storage industry by offering unique storage solutions that strike the perfect balance between performance and economics. The opportunity to partner with Tegile and help scale the company as it continues its rapid ascent in the flash storage industry is one that we simply could not afford to pass up.”
Tegile provides flash-optimized storage solutions that enable businesses of all sizes to accelerate their applications, reduce their storage footprint and cut operational costs. Tegile shipped its first storage array in 2012. Since then, the company has deployed more than 1,500 systems within mid-sized and large enterprise environments and has experienced year-over-year revenue growth of 350%. Read More.