Fusion-io Raises as Much as $45 Million
Total now at more than $111 million
This is a Press Release edited by StorageNewsletter.com on April 20, 2010 at 3:16 pmFusion-io has raised approximately $45 million in a Series C preferred stock financing, led by new investor, Meritech Capital Partners. Also participating in the round were new investors, Accel Partners, Andreessen Horowitz and Triangle Peak Partners, as well as returning investors, New Enterprise Associates (NEA) and Lightspeed Venture Partners, among others.
Fusion-io will direct the additional investment towards scaling up infrastructure to support rapidly increasing sales and build on the momentum its flash-based memory tier is experiencing across multiple industries. Funding will also support development of next generation technologies and products that will further distance the ioMemory Tier from the competition.
"The money put into the company by this impressive list of investors demonstrates the value of our technology in the current marketplace," said Dennis Wolf, CFO of Fusion-io. "Our competition will no doubt take note and be appropriately concerned about the extent and rapidity of our growth."
“In only a couple of years Fusion-io has clearly demonstrated the disruptive, innovative nature of its technology. It is causing organizations around the globe to rethink the way they architect their data centers,” said George Bischof, Managing Director at Meritech Capital. “This round of funding will allow Fusion-io to maintain the rapid pace of innovation it has established. We are excited by the significant value proposition the company’s products are delivering to customers, as well as the improvements that will be enabled with the next generation of revolutionary technology from Fusion-io.”
Comments
VCs are really attracted by SSD technology. That's the third round of Fusion-io, getting $19 million in 2008 and $47.5 million in 2009.
Dell and Samsung also invested in the company founded in 2006 and based in Salt Lake City, UT. Its customers of PCIe SSDs include Dell, HP and IBM.
New investor Meritech Capital Partners also put money in Acopia (F5), BlueArc, Force10, Netezza, Riverbed and Topspin (Cisco).
Other current start-ups involved in SSDs include:
- DDRdrive
- Indilinx
- Kaminario Technologies
- Nimbus Data Systems
- Pliant Technology
- RethinkDB
- SandForce
- Third i/O
- WhipTail Technologies