Datrium, the industry's leading Open Convergence platform for cloud builders, today announced that it has secured $55 million in Series C financing led by New Enterprise Associates (NEA), with return investment by Lightspeed Venture Partners, as well as funding from a third, outside investor. This new financing brings Datrium's total raised to more than $110 million since inception and provides a deep war chest to continue scaling sales, marketing, support and engineering to bring the benefits of Open Convergence and its flagship product, DVX, to cloud builders around the world.
Datrium was founded by virtualization and data management industry leaders from VMware and Data Domain, including early funding from VMware founders Mendel Rosenblum, Edouard Bugnion and Diane Greene, along with Data Domain founder Dr. Kai Li and ex-CEO Frank Slootman. By providing a data platform that models public cloud infrastructure-as-a-service (IaaS), Datrium eliminates the need for storage arrays, while integrating seamlessly with multi-vendor enterprise infrastructure.
"Storage arrays are a dying market, but for most cloud datacenters hyperconverged infrastructure is too inefficient and siloed to be a replacement," said Brian Biles, CEO of Datrium. "Datrium is the first vendor to bring the Open Convergence vision to life, splitting elastic data services from efficient data persistence. Our DVX is available for VMware today in the US and Japan, and we are excited to broaden our reach with this new investment."
"We are in the business of supporting transformative innovation," said Scott Sandell, Managing General Partner of NEA and Datrium Board Member. "From early on, we felt that Datrium had the potential to significantly impact the multi-billion dollar cloud infrastructure market. We're seeing this foresight realized through the company's impressive traction and are thrilled to continue partnering with the team."
Since announcing the general availability of Datrium DVX in Q1, the company has experienced record growth and industry praise as an infrastructure startup. Recent innovations and corporate milestones include:
- Record Customer Adoption: More than 50 companies in banking, cloud hosting, health care, public sector, manufacturing, media & entertainment and technology leaders have deployed Datrium in two full quarters of availability.
- Record NVMe Adoption: NVMe-based DVX systems have been deployed by multiple customers since Q1 2016.
- Record Pace of Innovation: Three major releases in seven months. In addition to Datrium DVX General Availability in January, Datrium has released Insane Mode in May, an on-demand VM acceleration utility that doubles performance with the touch of a button, as well as Performance Density in August, which doubled per-server flash to 100 terabytes for both SATA/SAS and PCIe/NVMe flash.
- Record Go-to-Market Growth: Authorized go-to-market partners has soared to 80 companies in North America and Asia today and growing.
- Industry Awards and Accolades: Datrium has been named to Gartner's Cool Vendors in Storage Technologies 2016, CRN Coolest Startups of 2016, Tech Republic's 2016 Coolest Companies, Channel Partner's Hottest Startups in the Channel, and CIO Review's Most Promising VMware Solutions Providers of 2016.
About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com.
About Lightspeed Venture Partners
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Consumer and Enterprise sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally, including Snapchat, The Honest Company, Nest, Nutanix, DataStax, AppDynamics and MuleSoft. The firm currently manages over $4 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com
About Datrium
Datrium is the leader in Open Convergence for private clouds. Datrium converges storage and compute in a radical new way—modeled on public cloud IaaS versus traditional converged infrastructure or hyper-convergence. Customers gain elastic performance and capacity with simple VM-centric management and analytics, and ultimately a simpler journey to hybrid clouds. Datrium is led by the founders and early top architects of Data Domain and VMware. Datrium has been named to Gartner's Cool Vendors in Storage Technologies, 2016. For more information, visit www.datrium.com and follow @datriumstorage on Twitter.
