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Nasuni Closes $38 Million in New Funding

Has now raised total of approximately $120 million.
This is a Press Release edited by StorageNewsletter.com on 2017.09.13

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Nasuni Corp. closed $38 million in growth equity funding led by Goldman Sachs Growth Equity (GS Growth), a platform within Goldman Sachs' Merchant Banking Division.

The investment follows another record quarter by Nasuni for new customer acquisition, expansion bookings from existing customers, and revenue.

Nasuni, which has now raised approximately $120 million, will use the new funding to expand its R&D, customer success, and go-to-market efforts.

Its growth is accelerating as enterprises look for a more scalable and cost-effective way to manage the exponential growth of unstructured data. Traditionally, IT organizations purchased NAS, backup, archive, replication, and DR hardware and software. File growth would quickly outpace capacity, file sharing and transfer challenges would limit multi-site collaboration, and insufficient recovery points and recovery times would threaten BC. Nasuni's cloud-native global file system and on-premises caching appliances, delivered as a subscription-based cloud service and integrated with cloud object storage, represent a paradigm shift in unstructured data management. This cloud-native approach is why the company counts the largest businesses in six different industry segments among its hundreds of customers.

"The cloud is replacing on-premises disk arrays as the next wave of storage," said David Campbell, MD, Goldman Sachs' Merchant Banking Division and newly appointed member of Nasuni's board of directors. "What has been missing is a global file system that enables enterprises to store their fastest growing type of data unstructured file data in cloud object storage. Nasuni, powered by its UniFS file system, is NAS redesigned for the cloud, enabling enterprises to reduce costs and provide data access to an increasingly global workforce, while seamlessly securing and protecting data so it can be easily recovered."

The GS Growth investment follows a year in which Nasuni received awards and customer validation, while positioning itself to further disrupt the NAS, backup, and DR markets that command billions of IT spend annually:
• Microsoft awarded Nasuni Azure Global ISV of the Year for driving more customer wins in the Azure cloud than any other vendor in Microsoft's fiscal 2017.
CIOReview named Nasuni to its 20 Most Promising Storage Solution Providers 2017 list.
• 40 new employees were added in the first half of 2017, and the team was expanded with 5 key appointments.
• Nasuni relocated its corporate HQs to the Seaport District in downtown Boston, MA, doubling its office space and enabling the company to more easily tap the talented pool of engineering and technology expertise in the city.

"While unstructured file data is the lifeblood of almost any large organization, the last decade has seen only incremental innovation in file system design," said Andres Rodriguez, Nasuni founder and CEO. "Traditional storage software and hardware vendors have viewed the cloud largely as a 'cheap and deep' target for backup and archive data, so they have perpetuated unscalable, device-centric architectures. Our disruptive approach of making the cloud the target for primary file storage as well as the hub for high-performance file distribution is now meeting the NAS scale and performance requirements of the most demanding media, manufacturing, engineering, technology, and construction companies. For any enterprise that lives and breathes files and needs to support global file workloads, Nasuni is now the clear choice."

"We have proven our technology works at scale, we are acquiring new customers at an increasing pace, and our customers renew their Nasuni subscriptions and buy more every year," said Paul Flanagan, president, Nasuni. "Now, it's about driving growth and scale in our business. We are thrilled to welcome Goldman Sachs to our investor base and delighted to be working with David Campbell, who, as a former IT executive with a computer engineering background, brings invaluable perspectives and real-world experience to our board."

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