SolidFire Secures $82 Million in Series D

SolidFire, Inc. has closed an $82 million Series D round of funding, bringing its total funding to $150 million.

New investor Greenspring Associates led the round along with a major sovereign wealth fund, with participation from current investors NEA, Novak Biddle, Samsung Ventures and Valhalla Partners.

SolidFire will use the additional funds to extend its global reach and further advance its leading all-flash storage architecture.

It also announced the expansion of its SF Series product line, unveiling two new storage nodes that decrease the cost of entry to the company’s scale-out flash storage platform. The SF2405 and SF4805 nodes are the third-generation of SolidFire hardware to be released since the platform became available in November 2012. Both new nodes can be integrated with any current SolidFire platform, delivering the full SolidFire feature set including guaranteed QoS, complete system automation and scale-out storage design.

“Just as flash has disrupted the legacy disk storage market, SolidFire continues to disrupt the all-flash array market by delivering a storage platform that goes far beyond the basics of raw flash performance,” commented SolidFire’s founder and CEO Dave Wright. “Additional funding allows us to continue to extend SolidFire’s technical advantages over the competition and will deepen our sales, marketing and channel enablement to meet the growing global demand for SolidFire’s leading all-flash storage architecture.”

“From SolidFire’s top rankings in independent industry analyst reports to its growing list of enterprise customers, SolidFire is shaking up the storage market,” said Harry Weller, a member of SolidFire’s board of directors and general partner at NEA, a venture capital firm that first invested in SolidFire in February 2011. “We welcome Greenspring Associates to the elite group of investors who recognize that SolidFire is revolutionizing the way the world uses the cloud.”

SolidFire continues to capitalize on increasing demand within enterprise and service provider data centers worldwide.

Additional highlights:

• Received highest product score for overall use case in Gartner’s 2014 Critical Capabilities for Solid-State Arrays (3.43 out of 5) and was recognized as a Visionary in Gartner’s 2014 Magic Quadrant for Solid-State Arrays.
• Grew revenue over 700% in 2013 and increased revenue over 50% quarter over quarter in 2014.
• Continued to expand its enterprise and service provider customer base, reaching approximately a 50:50 service provider/enterprise customer split over the last two quarters.
• Expanded its channel partner network to over 60 partners and four distributors, providing a global network of resellers covering AsiaPac, Europe, Middle East and Africa, and North America.
• Grew its employee base 150% in 2014 to over 250 people worldwide and is currently adding more than 30 additional staff.
• Broadened its reach in high-growth international markets, including opening new offices in Australia and Singapore to support increasing demand across the AsiaPac region.