Nasuni Closed on $25 Million in New Financing, Total at $80.5 Million

Nasuni Corp. closed on $25 million in new financing.

Most of the funding comes from a new $17.5 million Series E equity round, led by new investor, Sigma Prime Ventures.

The company also closed on $7.5 million in venture debt financing from Eastward Capital Partners.

All previous investors – Flybridge Capital Partners, North Bridge Venture Partners, Sigma Partners, and a large strategic investor – participated in this new round.

To date, the company has raised $80.5 million in venture capital financing.

“All aspects of managing files are causing enormous headaches for enterprise IT,” said Paul Flanagan, MD, Sigma Prime. “Exponential file growth is creating a constant capacity crunch for most companies, employees face slow and unreliable access to the corporate file share, and protecting files using traditional systems is cumbersome and extremely expensive. Nasuni’s cloud-based file system addresses all of these issues, and we’ve been extremely impressed with the market response. In the last year, for instance, the company has doubled the amount of customer data under management to 12PB. And just as compelling to us is the fact that our investment will directly support further expansion with the Fortune 500 and the Global 2000.”

A provider of enterprise file services to distributed organizations, the firm has created a cloud-native file file system, UniFS, and uses the public, private or hybrid cloud in much the same way that traditional storage vendors use commodity disk drives in their boxes.

With Nasuni, enterprises benefit from the almost limitless capacity and inherent resiliency of the cloud, and all file-related operations occur on a system that features military-grade encryption and centralizes control – including provisioning, permissions and encryption keys – solely under corporate IT.

The company continues to win large companies from a variety of sectors, including Ecolab (a water, hygiene and energy technologies and services company), one of the world’s largest video game developers and publishers, and one of the world’s largest advertising agencies.

The company also continues to forge new alliances with IT vendors, such as IBM Cloud Object Storage and Microsoft Azure.

“Nasuni was in the enviable position of raising money from a position of strength,” said Scott Dussault, COO and CFO, Nasuni. “The problems IT faces in managing file growth, access and data protection are only getting more painful, and traditional storage systems are not up to the task. We could, if we wanted, achieve cash flow break-even next year, but given the intense demand for our solution, we’ve chosen to pursue growth and invest in all aspects of our business, including further international expansion in 2017.”