Pure Storage, a Mountain View, California-based flash storage company has raised $150 mn from T. Rowe Price, Tiger Global Management and “other public market investors,” previous investors Greylock Partners, Index Ventures, Redpoint Ventures, Samsung Ventures and Sutter Hill Ventures also invested in the round.
In an effort to pioneer a new/efficient way of data storage for enterprises, Pure Storage has designed a technology that revolves around flash memory – enabling organizations to manage growth within existing power and space constraints.
The company has also announced that it has brought aboard industry veteran Frank Slootman, former CEO of Data Domain as its new director – who was working with the company as its private investor from some time.
Talking of market competition, Pure Storage is competing with a number of rivals including IBM, Violin Memory but has effectively evangelized the use of fast flash-integrated storage to a significant audience.
Founded in 2009, the company – with this amount of funding has managed to brought the total capital somewhere close to $245 million. Moreover, the company said that the latest round of funding will help put itself on track to pursue an IPO – which it was considering from quite some time.
Other than IPO, the company will use the cash to fuel its global expansion to Europe and Asia and to boost R&D efforts.
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