$30 Million in Funding for Qumulo, Total at $130 MillionClaimed 425% Y/Y growth in petabytes shipped
This is a Press Release edited by StorageNewsletter.com on 2017.04.04
Qumulo, Inc., in scale-out storage, closed $30 million in funding, bringing the total to date over $130 million.
The oversubscribed C Prime funding round was led by new investors Northern Light Venture Capital and other strategic investors, with participation from existing investors Kleiner Perkins Caufield & Byers (KPCB), Madrona Venture Group, Top Tier Capital Partners, and Tyche Partners.
The company will use the funding to fuel market and global expansion.
This news follows the recent appointments of EMC Isilon veteran Bill Richter as CEO, replacing Peter Godman, Eric Scollard as VP of WW sales, and Jay Wampold as VP marketing, adding to the engineering team built by CTO Peter Godman and chief scientist Neal Fachan.
With an executive team experienced at building and scaling large, category-leading companies, Qumulo is in the race to replace legacy storage.
As a result, the company has experienced 425% year-over-year growth in petabytes shipped to customers.
"Customers have been very vocal with us about the need to address the scalability crisis they face as the rapid growth of their file-based storage exceeds the fundamental design assumptions of existing scale-out NAS," said Richter. "Qumulo is taking a departure from the legacy storage playbook with modern scale-out storage designed from the ground up to handle the new era of multi-petabyte data scale on-premises and in the cloud. As Qumulo's software closes the 15-year gap in storage innovation, we look forward to continued customer growth alongside an aggressive product roadmap."
Northern Light Venture Capital was founded in 2005 and manages approximately $1.5 billion in committed capital, investing in more than 180 portfolio companies worldwide.
Qumulo's new funding will support the growth of its enterprise-ready, scale-out storage solution, and expansion into vertical industries in North America, Europe and Asia.