Multi-Cloud Storage Company MinIO Raises $103M in Funding at $1B Valuation


MinIO, the company behind the MinIO multi-cloud object storage suite, has secured $103 million in Series B fundraising at a valuation of $1 billion. MinIO is a high-performance, Kubernetes-native, S3-compatible object storage that may be used for a variety of data storage applications. MinIO’s total money raised to date is $126 million, thanks to this new fundraising.

Intel Capital led the investment, which included participation from new investor SoftBank Vision Fund 2 as well as current investors Dell Technologies Capital, General Catalyst, and Nexus Venture Partners.

“MinIO’s ability to solve the multi-cloud storage challenges faced by developers is impressive and we are delighted to continue supporting their mission through investment from Intel Capital,” said Greg Lavender, Chief Technology Officer, Senior Vice President, General Manager, Software and Advanced Technology Group at Intel Corporation. “Developers represent the engine of value creation in the enterprise and MinIO’s object storage suite is uniquely suited for their evolving requirements. MinIO’s power, simplicity and capacity to run anywhere – from the edge to the cloud – make it one of the most compelling companies in the storage space.”

“MinIO is fueled by developers. They drive our growth and enhance our product,” said AB Perisamy, CEO and Co-Founder of MinIO. “This funding round will accelerate our efforts to deliver the world’s best multi-cloud data storage software and provide us with the resources to build a modern, developer-centric go-to-market machine.”

Public Cloud, Private Cloud, and Edge

Photo AB Perisamy, CEO and Co-Founder of MinIO
“This funding round will accelerate our efforts to deliver the world’s best multi-cloud data storage software and provide us with the resources to build a modern, developer-centric go-to-market machine,” said AB Perisamy, CEO and Co-Founder of MinIO.

The MinIO multi-cloud object storage is AWS S3 compatible. MinIO is available on all clouds and has over 1.2 million active deployments on the public cloud, private cloud, and edge. This covers Google Kubernetes Engine public cloud installations, Amazon’s Elastic Kubernetes Service, Azure Kubernetes Service, Red Hat OpenShift private cloud deployments, VMware Tanzu, HPE Ezmeral, SUSE Rancher, and millions of colocation and edge deployments.

MinIO’s feature offering continues to grow with the inclusion of click-to-deploy capabilities on AWS, Google Cloud, and Microsoft Azure. This would complement MinIO’s capabilities in the field of information lifecycle management, ransomware protection and active-active, strictly consistent multi-site replication.

“High performance, multi-cloud object storage represents a foundational component in the modern software stack,” said Vikas Parekh, Managing Partner at SoftBank Investment Advisers. “We believe that MinIO has established itself as the leader for a diverse set of workloads from AI/ML, advanced analytics, databases and modern applications. We are delighted to partner with Anand Babu Periasamy, Garima Kapoor and the team as they ramp up commercialization of the technology.”

MinIO has seen massive adoption from organizations around the globe. Growth metrics include:

  • In the last year, ARR grew by over 201%
  • MinIO’s client count grew by over 208% in 2021 alone
  • Total number of Docker pulls of 762,000,000, now averaging over 1,000,000 per day
  • More than 31,000 GitHub stars and over 16,000 MinIO Slack community members

“MinIO is a foundational component of our Epiphany Data Foundation and Panoptic Compliance Audit Platform that provides the data ingestion, auditing and machine learning capabilities at PRGX,” said Amir Karuppaiah, Chief Technology Officer (CTO) at PRGX USA. “Together, we are on the journey of cloud-native solutions with data lakes and advanced, throughput-oriented machine learning approaches that deliver secure, accurate insights to our customers.”

“Rakuten Symphony was created with a vision that modern telco infrastructure should be cloud-native, open and interoperable, giving mobile network operators the ability to build, deploy and scale at speeds and low costs never before seen,” said Tareq Amin, Chief Executive Officer (CEO) at Rakuten Symphony. “To achieve this, we need like-minded partners like MinIO to enable operational efficiencies from the edge to the cloud.”