Infinio Closes $12 million in Over-Subscribed Series B

Infinio Systems, Inc., provider of downloadable storage performance, has closed a $12 million Series B financing led by Infinio’s current investors.

The Series B round brings Infinio’s total funding to date to $24 million.

All major backers, including Bessemer Venture Partners, Highland Capital Partners, Lightspeed Venture Partners, and Osage University Partners (a partner of Columbia University, home of Infinio’s roots), participated in the round.

Infinio’s first product, Accelerator, became available in early November of this year, and is serving customers across the retail, life sciences, high technology, financial services, and shipping industries.

“It’s been a great year for Infinio,” said company co-founder and CEO Arun Agarwal. “On the day we launched, we already had one paying customer, and have added more steadily in the weeks since GA. Earlier this year we were honored to win two awards, one recognizing our product’s innovation and one recognizing our momentum as a start-up to watch. We have a proven product, a diverse customer base, a talented team of employees, and now an even stronger financial position going into 2014.”

“We placed our first bet on the Infinio team because they had a clearly differentiated idea with the potential to serve a broad market,” said Bessemer Partner Felda Hardymon. “Since then, they’ve developed that idea into a solid product now serving real-world customers in five different industries. Such breadth is impressive for a company in the market less than two months, and is the type of momentum that suggests a truly massive opportunity. Bessemer manages a very large fund, and one of our key strategies is to double down on winners like Infinio.”