Qumulo, a pioneering global provider of file storage for the cloud era, 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 this funding round.
Qumulo’s technology helps 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, the new funding would support the company’s explosive growth as it enters its next phase of maturation.
The company is pioneering a new category of enterprise storage that would address 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.
“Our customers are demanding a fundamentally different approach to managing and storing the large and dispersed data that their businesses rely on,” said Bill Richter, CEO of Qumulo. “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. 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.”
Founded in 2012 by the inventors of scale-out NAS, Qumulo has hundreds of petabytes of data stored, and billions of files under management globally, as well as triple-digit year-over-year growth. Qumulo’s customers would include three of the five largest companies on earth, nine of the 10 top Hollywood studios and several Fortune 500 companies.
The news follows the recent appointment of Peter Zaballos as Chief Marketing Officer. Mr. 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.