Tintri Inc., a maker of VM-aware storage appliances, has added $25 million in new funding. Menlo Ventures led the round. Existing investors NEA and Lightspeed Venture Partners also contributed. The money will help Tintri expand research and development, as well as sales efforts.
Tintri, Inc., the leading producer of purpose-built, VM-aware storage appliances, today announced that it has closed an oversubscribed $25 million funding round, led by Menlo Ventures, and joined by existing investors NEA and Lightspeed Venture Partners. This latest round brings the company’s total capital raised to over $60 million. Tintri plans to use the additional funding to accelerate both R&D and sales operations, as well as to support its continued global expansion.
Tintri VMstore is the first and only VM-aware storage appliance that provides enterprises simplified and intelligent storage for virtual environments. Designed from the ground up for flash and virtualization, Tintri brings intuitive VM-level manageability, simplicity, and flash performance at disk prices.
Tintri has experienced dramatic growth since its March 2011 launch. The company has grown at an average quarterly rate of 100% since that time and has an expanding global customer base of over 100 companies from a diverse range of industry verticals such as consumer electronics, entertainment, financial services, healthcare, and technology. Enterprises such as Alliance Bank, Digital Chocolate, F5 Networks, Mitsubishi Electric Information Network Corporation, Northwestern University, Tibco as well as Fortune 100 companies have turned to Tintri’s VM-aware storage appliance to support their VDI, database, test and development, and virtualization expansion projects. Since the company’s launch, Tintri has seen a marked increase in the average number of virtual machines being deployed in production on its storage appliance. [In addition, Tintri has rapidly scaled its team including key senior hires from companies such as Citrix, Data Domain, Google, NetApp, and VMware.
“As the data center becomes increasingly virtualized, enterprise storage is undergoing a drastic transformation, which has created a fantastic opportunity for innovative new companies,” said Mark Siegel, Managing Director for Menlo Ventures. “Tintri is clearly at the forefront of redefining enterprise storage with its VM-aware approach. It’s impressive to see how quickly they’ve gained market traction since their launch. We believe our firm’s deep domain expertise in storage complements Tintri’s long-term goals. We are excited to join Tintri as they continue to shake up the established order and extend the benefits of virtualization from the server side to storage.”
“There is an ever-growing demand for VM-aware storage that supports broad virtualization deployments and changes the data center economics,” said Kieran Harty, Tintri CEO. “This investment validates the success and innovation we have achieved to date and the enormous market opportunity. With the additional funding, we will be able to accelerate our efforts to help our customers’ transition from legacy storage to VM-aware storage. We are excited to be partnering with another world-class investor and honored by the continued commitment from our existing investors.”