SolidFire Raises $82 Million in Series D Funding

SolidFire Raises $82 Million in Series D Funding

SolidFire secures $82 million in series D funding, bringing its total funding to $150 million.


This article originally appeared at The WHIR

Flash storage company SolidFire announced Tuesday that it has secured $82 million in series D funding, bringing its total funding to $150 million. SolidFire also announced a product line expansion to include enterprise storage solutions for less than $100,000.

SolidFire’s strategy is to expand its market by lowering the entry price to its flagship SF Series cloud-scale flash arrays. The new SF2405 starts at 35TB of effective capacity and 200,000 predictable IOPS, while the SF4805 doubles the SF2405’s density and delivers Solidire’s lowest price per gigabyte.

The funding round was led by new investor Greenspring Associates, as well as a major sovereign wealth fund. Current investors NEA, Novak Biddle, Samsung Ventures and Valhalla Partners also participated.

“Just as flash has disrupted the legacy disk storage market, SolidFire continues to disrupt the all-flash array market by delivering a storage platform that goes far beyond the basics of raw flash performance,” SolidFire’s founder and CEO Dave Wright said. “Additional funding allows us to continue to extend SolidFire’s technical advantages over the competition and will deepen our sales, marketing and channel enablement to meet the growing global demand for SolidFire’s leading all-flash storage architecture.”

SolidFire’s revenue has grown 50 percent quarter over quarter in 2014, after 700 percent growth in 2013 as flash has swept through the cloud market. The company also more than doubled its staff in the past year and is hiring again. Efforts in several of the areas mentioned by Wright can already be seen in news from SolidFire’s over the past year.

On the technical side, the company launched a new block storage solution for OpenStack clouds in May, and to better address global demand it announced a new Asia-Pacific headquarters in Singapore in April. SolidFire also partnered with ServInt in January to upgrade ServInt’s VPS offering.

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