CRM Authors: Xenia von Wedel, Ian Khan, PR.com Newswire, Steve Mordue

News Feed Item

PernixData Raises $35M in Series C Financing, Closes First Fiscal Year With Record Revenue

SAN JOSE, CA -- (Marketwired) -- 08/20/14 --

  • Menlo Ventures Leads Oversubscribed Round with New Individual Investments from Marc Benioff, Jim Davidson, and Steve Luczo
  • Company adds Mark Siegel of Menlo Ventures to Board; Appoints Former Dell GM, Mike Arterbury, as VP of Business Development

PernixData, the leader in server-side storage intelligence, announced today that the company has raised $35 million in Series C funding. Menlo Ventures led the oversubscribed round, which also included new individual investments from Marc Benioff (chairman and CEO of salesforce.com), Jim Davidson (Co-Founder, Managing Partner and Managing Director at Silver Lake), and Steve Luczo (chairman and CEO of Seagate Technology). Previous investors Kleiner Perkins Caulfield and Byers, Lightspeed Ventures, Lane Bess, Mark Leslie and John Thompson also contributed to the Series C round, which now brings the total investment in the company to $62 million.

On July 31, 2014 PernixData also closed its first full fiscal year, which had 42 percent quarter-over-quarter revenue growth and revenues that set a record amongst enterprise infrastructure software companies.

"PernixData has experienced an absolutely amazing year with groundbreaking product features, 160 percent growth in world-wide headcount, extensive industry accolades, top tier funding, and revenues that were 50 percent higher than any other enterprise software company during its first year of sales, handily beating the previous record in this space," said Poojan Kumar, CEO and co-founder of PernixData. "This underscores the enormous demand for our unique decoupled storage architecture. We will use this revenue momentum and the new round of funding to execute on our next phase of product vision and deliver FVP globally to all virtualized data centers."

"We are witnessing a fundamental shift in storage design where performance is decoupled from capacity using PernixData FVP software and server side flash," said Steve Luczo, chairman of the board and CEO of Seagate Technology. "This brings unparalleled performance and scalability to virtualized applications, and makes flash technology a strategic component of tomorrow's software defined data center."

"The initial journey to virtualization took many years and resulted in a fundamental shift in data center design and operations," said John W. Thompson, CEO of Virtual Instruments and chairman of Microsoft. "It is really exciting to see this next phase of acceleration as more companies of all sizes embrace the unique technology of PernixData to improve overall application performance in their software defined data centers."

Leading the Decoupled Storage Revolution
PernixData is fundamentally changing how storage is designed and operated in virtual data centers. The company's flagship product, PernixData FVP software, virtualizes server flash and RAM to enable scale-out storage performance that is independent of capacity. No changes are required to VMs, servers or primary storage, ensuring maximum performance of all virtualized applications in a seamless, scalable and cost-effective manner.

  • Revolutionary Product. PernixData first began shipping FVP software in August of 2013. In a short period of time, the product established itself as the premier platform for storage acceleration with unique features like write acceleration, clustering, and installation within the hypervisor. In April 2014, FVP also became the first acceleration solution to run on both flash and RAM, and to support any file, block or direct attached storage.

    Today, FVP is estimated to be accelerating approximately 120,000 virtual workloads worldwide.

  • Broad Range of Customers. PernixData has sold FVP software to approximately 200 companies in over 20 countries, ranging from two to 300+ node deployments. Customers range from small businesses to large enterprises and global service providers, including well-known names like Tata Steel, Bank of the West, Virtustream, Sega, Toyota and more. More customer examples can be found here: http://www.pernixdata.com/solutions/case-studies-industry

    Approximately 20 percent of PernixData FVP customers made follow-on software purchases during the company's first fiscal year, with the average follow-on order being twice the original (and typically taking less than 3 months to complete).

  • The Most Industry Awards. PernixData was distinguished this past year with more industry awards (seventeen) than any other enterprise software company. Specific accolades include two Best New Technology awards at VMworld 2013, Forbes Most Promising Company, Gartner 2014 Cool vendor in Storage, and Infoworld Product of the Year. A full list of awards can be viewed here: http://www.pernixdata.com/awards

  • World-class Partners. PernixData has signed almost 250 resellers worldwide in approximately 40 countries. In addition, the company has a global resale agreement in place with Dell. On the technology side, the company introduced the PernixDrive program to accelerate the adoption of decoupled software, which has led to various partnerships with leading flash vendors like HGST, Intel, Kingston, Micron, SanDisk, Toshiba, and more.

PernixData Announces New Team Members
As part of this announcement, Mark Siegel, Managing Director at Menlo Ventures, has joined the PernixData board in an advisory role. Mark's active investments and board seats include Dropcam, Dstillery, eXelate, Getaround, Invidi, Pluribus Networks, Tintri and Voltage Security. Some of his previous board seats include 3PAR (acquired by HP), Pliant Technology (acquired by SanDisk), RNA Networks (acquired by Dell), BlueGill Technologies (acquired by Checkfree), and Rubric (acquired by Broadbase).

"PernixData FVP is a critical component of the software defined data center," said Mark Siegel, Managing Director at Menlo Ventures. "It brings a new level of value to the hypervisor, making virtualization even more strategic to every company's application, storage and networking plans."

PernixData has also expanded its executive team with the hiring of Mike Arterbury as Vice President of Business Development. Mike comes to PernixData from Dell, where he most recently served as General Manager of the Software and Peripherals group. In his role at PernixData, he will be responsible for creating and nurturing Go-to-Market programs with various technology partners.

A complete listing of PernixData investors, advisors, and management team can be found at http://www.pernixdata.com/company/team

Helpful Links

About PernixData™
PernixData is fundamentally changing how storage is designed and operated in virtual data centers. The company's flagship product, PernixData FVP™, virtualizes server flash and RAM to enable scale-out storage performance that is independent of capacity. No changes are required to VMs, servers or primary storage, ensuring maximum performance of all virtualized applications in a seamless, scalable and cost-effective manner.

Based in San Jose, California, PernixData was founded by virtualization experts and backed by industry luminaries in the software space. For more information, please visit www.pernixdata.com and follow us on Twitter @PernixData.

Copyright © 2014 PernixData, Inc. All rights reserved. This product is protected by U.S. and international copyright and intellectual property laws. PernixData, FVP, Flash Hypervisor and Flash Cluster are trademarks of PernixData, Inc. in the United States and/or other jurisdictions. All other brands, products, marks and names mentioned herein may be trademarks or service marks of, and are used to identify, products or services of their respective owners.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2660924

Media Contact:
Tanya Carlsson
Kulesa Faul
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...