Pure Storage Raises $30M in Series C Financing for All-Flash Enterprise Array Technology
Samsung and Redpoint Ventures join Greylock Partners, Sutter Hill Ventures and Angels in Oversubscribed Round for Disruptive Flash Storage Startup
Mountain View, CA – August 23, 2011 — Pure Storage, the all-flash enterprise storage company, today announced that it raised an additional $30 million in Series C funding. Samsung, which joined as part of a broader strategic partnership, closed the oversubscribed round led by Redpoint Ventures, Greylock Partners, Sutter Hill Ventures and angel investors. Pure Storage has received a total of $55 million in capital investments to date. The company plans to use the new funds to accelerate engineering, operations and go-to-market activities. The funding also ratified the relationship with Samsung Semiconductors (NASDAQ: SSNLF).
Concurrently, the company emerged from stealth today to unveil its flagship product, the Pure Storage FlashArray FA-300 Series, the first all-flash enterprise storage array. When compared to traditional disk storage, the Pure Storage FlashArray is more than 10x faster and is 10x more space and power efficient, at a lower per gigabyte price than disk-centric arrays, including performance disk, flash retrofits and flash/disk hybrids.
“There is a transformation underway in the data storage market, and Pure Storage’s approach to enabling flash for the mainstream is pointing the way,” said Jim Elliott, Vice President, Memory Marketing and Product Planning, Samsung Semiconductor, Inc. “Our companies share a common vision: to revolutionize the data center through solid state technology that will be radically faster, yet consume a fraction of the power and space required today.”
In the typical data center, performance demands are overwhelming the capabilities of traditional disk storage. Founded in 2009, Pure Storage has developed a unique approach to making flash memory far easier to adopt in the enterprise. In addition to driving down cost, the Pure Storage FlashArray is plug-compatible with existing virtualization, database and cloud-oriented infrastructures, and it delivers the mission-critical reliability of a true enterprise array.
“In performing our due diligence, what made Pure Storage stand out from the pack was its unique value proposition for the enterprise,” said Satish Dharmaraj, General Partner from Redpoint Ventures. “With a strong and experienced leadership team, a game-changing technology and some of the brightest minds in both flash memory and storage, we believe that Pure Storage is going to be a major disruptor. We’re thrilled to be part of the team.”
“As we boldly enter the marketplace, we are well-positioned to have a profoundly transformative impact on the evolution of the data storage industry,” said Scott Dietzen, CEO of Pure Storage. “We are encouraged by the renewed commitments of our backers and our angel investors, whose visionary direction and support have been a driving force behind the successful development of our technology, vision and leadership to this critical point. There are great things ahead for Pure Storage, and we look forward to working with our investment partners to continue to build a successful venture. Customers are currently spending about $20 billion per year on performance disk storage. They ought to be getting more for their money. By breaking the cost barrier to mainstream data center adoption of flash, we are serving the market’s interests far more effectively than disk-centric alternatives are capable of doing.”
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.
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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.