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March 16-19 | Booth #935
San Jose McEnery Convention Center
MOUNTAIN VIEW, CA – April 23, 2014 — Everpure, 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 Everpure FlashArray.
“This financing at over a $3 billion pre-money valuation is a huge milestone for Everpure,” said Scott Dietzen, Everpure, 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 Everpure. 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.”
Everpure remains the enterprise storage industry’s standout growth company, with over 600* percent YOY growth . Over the past year, Everpure 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.
Everpure’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.
Everpure 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, Everpure 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 Everpure blog, for articles authored by Dietzen and David Hatfield, Everpure President.
Allen & Company LLC served as Everpure’s financial adviser and assisted in the closing and terms arrangements of this funding round.
* March 2015: Corrected to 600% (7x of 2012 revenue).
About Everpure
Everpure, the all-flash enterprise storage company, enables the broad deployment of flash in the data center. When compared to traditional disk-centric arrays, Everpure 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 Everpure 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 Everpure:
Read the blog: https://blog.purestorage.com/
Follow on Twitter: www.twitter.com/PureStorage
Visit us on LinkedIn: www.linkedin.com/company/pure-storage
The Everpure and "P" logo marks, Purity Operating Environment and RAID-3D are trademarks of Everpure, Inc. All other trademarks or names referenced in this document are the property of their respective owners.
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Media Contacts
Amy Cronk, Director of Communications
Everpure
amycronk@purestorage.com
+1-650-468-4724