Pure Storage Raises $225M, Valued at Over $3B by Leading Public Market Investors
With Plans for Continued Business Acceleration, Pure Storage Raises New Capital to Meet Market Demand, Expand Global Footprint and Preserve Long-Term Independence in Pioneering the All-Flash Future for Enterprise Storage
MOUNTAIN VIEW, Calif., April 23, 2014-- Pure Storage, the all-flash enterprise storage array company, has closed a $225 million Series F funding round, at a pre-money valuation of over $3 billion. The round included contributions from previous public market investors including T. Rowe Price Associates, Inc. and Tiger Global and new investor, Wellington Management Company. The round also included participation from prior venture capital investors Greylock Partners, Index Ventures, Redpoint Ventures, and Sutter Hill Ventures. The new funding brings the company’s total capital raised to $470 million to date, and will support the continued acceleration of its market trajectory and international business expansion through increased investments in engineering, sales, marketing and channel partner enablement, to meet insatiable global demand for the Pure Storage FlashArray.
“This financing at over a $3 billion pre-money valuation is a huge milestone for Pure Storage,” said Scott Dietzen, Pure Storage, CEO. "Yes, it reinforces the health and standout growth of our business to date, but more importantly, the disruptive potential of an all-flash array that costs less than disk going forward. In 2014, no one should be buying mechanical disk to run databases or virtual machines. Our additional funding ensures that many more businesses will get the ten-fold performance acceleration and power savings of Pure Storage. With our top-quality investors and partners, Pure is well positioned for long-term independence and ultimately to lead the ferociously competitive storage market as we leave the mechanical legacy behind.”
Pure Storage remains the enterprise storage industry’s standout growth company, with over 700 percent YOY growth. Over the past year, Pure Storage has consistently achieved 50 percent sequential quarterly growth, and continued aggressive international expansion, opening new offices across four continents. In 2013 the company grew its global customer base by 650 percent and crossed a go-to-market tipping point, shipping its 1000th FlashArray to customers worldwide since inception.
Pure Storage’s commitment to operating as a channel-centric organization has resulted in a threefold increase in channel productivity in the last year, through a multi-tiered network of more than 200 partner organizations. Additionally, Pure has received top accolades for its channel enablement programs and leadership including a 5-Star rating in the CRN 2014 Partner Program Guide for the company’s P3 Partner Program and a 2014 Channel Chief Award.
Pure Storage has recruited world-class talent and bolstered its global go-to-market infrastructure with key executive hires across sales and operations, delivering on its mission to pioneer the all-flash future for storage. Most recently, Pure Storage appointed Kevin Delane as vice president of global alliances and business development to lead the company in developing key strategic channel and technology partnerships. As a veteran of the enterprise storage industry, Delane brings decades of sales and go-to-market experience to the company. He previously held executive leadership roles at IO and EMC.
For a more detailed discussion about the Series F round please visit http://www.purestorage.com/blog/, for articles authored by Dietzen and David Hatfield, Pure Storage President.
Allen & Company LLC served as Pure Storage’s financial adviser and assisted in the closing and terms arrangements of this funding round.
About Pure Storage
Pure Storage, the all-flash enterprise storage company, enables the broad deployment of flash in the data center. When compared to traditional disk-centric arrays, Pure Storage all-flash enterprise arrays are 10x faster and 10x more space and power efficient at a price point that is less than performance disk per gigabyte stored. The Pure Storage FlashArray is ideal for high performance workloads, including server virtualization, desktop virtualization (VDI), database (OLTP, real-time analytics) and cloud computing. For more information, visit www.purestorage.com.
Connect with Pure Storage
• Read the blog: http://www.purestorage.com/blog
• Follow on Twitter: www.twitter.com/PureStorage
• Visit us on LinkedIn: https://www.linkedin.com/company/pure-storage
• Enjoy our videos on YouTube: I Want Flash, All Night Long and You Know You Want Flash, Right?
The Pure Storage and “P” logo marks, Purity Operating Environment, and RAID-3D are trademarks of Pure Storage, Inc. All other trademarks or names referenced in this document are the property of their respective owners.
Amy Cronk, +1-650-468-4724
Director of WW Communications
Venture Capital Database