The Qumulo start-up, which specializes in scale-out and distributed storage solutions in hybrid environments, raised $125 million. The company is valued at $1.2 billion capitalization.
Founded in 2012 by Isilon Systems alumni, Seattle-based Qumulo has raised $125 million. Positioned in scale-out and distributed storage solutions designed for the cloud, the start-up is now valued at more than $1.2 billion. Regarding its financing round, the latter was led by the BlackRock fund, supported by Madrona Venture Group, Kleiner Perkins and Highland Capital Partners. With this contribution, Qumulo intends to accelerate its product development in particular to “democratize file data management in a multicloud environment”, expand internationally and build strategic partnerships. The total amount of funds raised by the company since its inception stands at $351 million.
“This latest investment is a great recognition of our category leadership and our unique capabilities to help customers create, manage and leverage their file data at scale. This will help Qumulo accelerate our ability to serve the world’s largest enterprises with the freedom, control and performance that organizations need more than ever,” said Bill Richter, CEO of Qumulo. “We’re seeing a rapid increase in demand from content creators covering artists creating Hollywood blockbusters, researchers solving global pandemics, engineers putting rockets into space.”
According to the start-up, its technology is now used to manage more than 150 billion mission-critical files. Among its client references, we find Shell, Hyundai and the Institute Health Metrics and Evaluation.