Cloud Computing: SolidFire announces new funding, new storage nodes, but no plans for IPO
October 8, 2014
Grazed from CloudTech. Author: James Bourne.
Flash storage provider SolidFire has beefed up its funding pool with a series D round of $82m, bringing its total up to $150m. The funding was led by Greenspring Associates, a new investor, along with current investors NEA, Novak Biddle, Samsung Ventures and Valhalla Partners. SolidFire says the new funds will be part of a global push and to advance its all-flash storage architecture.
“Series D financing for SolidFire is important,” Jay Prassl, SolidFire VP marketing, told CloudTech. “When you’re building an infrastructure company and a storage company like SolidFire, it’s a capital-intensive business. “This D round funding is very important because it puts SolidFire very much on a path to profitability,” he added…
“We are growing a very long term standalone storage company, and raising these funds allows us to really set us up on a path to profitability and leave the options open, if you will, for SolidFire to continue to make additional moves as it goes forward.” Prassl added there was nothing set in stone regarding an IPO – indeed, reading the history books of what’s happened to storage companies in the past, he admits there’s no prize for going public too early…
Read more from the source @ http://www.cloudcomputing-news.net/news/2014/oct/07/solidfire-announces-new-funding-new-storage-nodes-no-plans-ipo/