Qumulo Raises $93 Million in Series D Funding as Market Disruptor Enters Next Phase of Hyper Growth
Jun. 06, 2018
SEATTLE, June 06, 2018 (GLOBE NEWSWIRE) -- Qumulo, Inc., the pioneer and leader in file storage for the cloud era, today announced that the company has closed $93 million in Series D funding. The oversubscribed funding round attracted participation by global investment management organizations, including the round’s lead investor, with funds managed by BlackRock Private Equity Partners. Goldman Sachs and Western Digital also participated in the round. The Series D round also included follow-on investments from all major existing investors, including Highland Capital Partners, Kleiner Perkins Caufield & Byers (KPCB), the Madrona Venture Group, and Valhalla Partners.
Qumulo is pioneering an entirely new category of enterprise storage that addresses the intersection of three important trends: the explosion of digital content impacting every aspect of our lives, the utilization of machine learning and next-generation analytics to derive value from that data, and the standardization of cloud architectures in the enterprise. Qumulo is the only modern storage company with the technology and market traction to help customers store, manage and access their file data at scale, on-premises and in the public cloud, anywhere in the world. Further validating Qumulo’s market position and leadership, the new funding will support the company’s explosive growth as it enters its next phase of maturation.
“Our customers are demanding a fundamentally different approach to managing and storing the large and dispersed data that their businesses rely on. Legacy storage vendors can’t keep up as they are built on 15 to 25 year-old architectures that optimized proprietary hardware, not software or the public clouds. They simply never contemplated today’s requirements,” said Bill Richter, CEO of Qumulo. “This latest funding round is not only a testament to our team’s vision and accomplishments, but the capital also secures our plans for continued expansion, accelerated product capabilities and long term company sustainability. Everything we do is rooted in our commitment to meeting our customers’ growing and evolving data needs, while advancing the entire industry through rapid and focused innovation.”
"The incredible expansion of file-based data in today’s cloud era presents companies with the daunting challenge of storing, managing and accessing their digital content at scale," said Muhammad Mian, a Managing Director with BlackRock Private Equity Partners. "Qumulo’s disruptive model has defined an entirely new category of enterprise storage, providing many of the world’s leading companies with the most advanced solution on the market."
Since inception, Qumulo has demonstrated increased momentum, impressive growth and record pace of adoption in large enterprises worldwide. With hundreds of petabytes of data stored, billions of files under management globally and triple digit year-over-year growth, the company has become the pioneer in the next generation of file storage. Qumulo’s customers include three of the five largest companies on earth, nine of the 10 top Hollywood studios and many of the most admired Fortune 500 companies. Today’s news follows the recent appointment of Peter Zaballos as Chief Marketing Officer. Zaballos was tapped for his marketing innovation and proven track record with high-growth companies as they scale — and was brought on to oversee Qumulo’s global marketing and prepare the company for its next stage of growth.
Qumulo ® File Fabric (QF2 ™ ) is a modern, highly scalable file storage system that was designed from the ground up to meet all of today’s requirements for scale. QF2 runs in the data center and the public cloud, and can scale to billions of files. It handles small files as efficiently as large ones. QF2’s analytics let administrators drill down to the file level, get answers and solve problems in real-time. With QF2, enterprise customers have the freedom to store, manage and access petabytes of their file-based data in any operating environment on a global scale.
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About Qumulo, Inc.Qumulo, Inc. is the pioneer and leader in file storage for the cloud era. Qumulo File Fabric (QF2) gives data-intensive businesses the freedom to store, manage and access petabytes of file-based data in the data center and in the cloud at a global scale. Founded in 2012 by the inventors of scale-out NAS, Qumulo serves the modern file storage and management needs of Global 2000 customers. For more information, visit www.qumulo.com.
Qumulo, the Qumulo logo and QF2 are registered trademarks or trademarks of Qumulo, Inc. All other marks and names herein may be trademarks of other companies. Copyright © 2018. All Rights Reserved.
Media Contact:Tanya CarlssonOffleash for Qumulo firstname.lastname@example.org 707.529.6139