Tintri Raises $125 Mn in Financing to Accelerate Global Adoption of VM-Aware Storage
Mountain View, Calif: Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, announces the close of a $125 Mn Series F round led by Silver Lake Kraftwerk. Tintri’s existing investors—Insight Venture Partners, Lightspeed Ventures, Menlo Ventures and NEA—also participated in the round, bringing Tintri’s total capital raised to $260 Mn. The company will use the funding to accelerate global adoption of VM-aware storage.
“We are honored to be partnering with such an esteemed group of investors,” said Ken Klein, chairman and CEO for Tintri. “The storage industry is going through a dramatic transformation. Virtualization and cloud are forces for change—and conventional DAS, NAS and SAN storage is struggling to keep pace. That’s why our message of VM-aware storage (VAS) is winning in the marketplace. This funding fuels our mission—we’ll be growing our global footprint and raising visibility of the business benefits of storage built specifically for virtualized enterprises. Customers that move from traditional and outdated storage platforms to Tintri are consistently amazed by our performance and simplicity—they never look back.”
“We believe Tintri’s trailblazing technology is disrupting storage software architectures for an expanding base of blue-chip customers,” said Adam Grosser, Tintri board member and Managing Director at Silver Lake Kraftwerk. “We see strong long-term growth potential for Tintri, and we are excited to partner with Tintri’s visionary management to deliver the next generation of storage solutions.”
Tintri has driven triple digit year-over-year growth and has an expanding global enterprise customer base—nearly half of its customers report annual revenues of $1 billion or more. At present, Tintri is trusted with more than 400,000 virtual machines, storing 50 petabytes of user data for enterprises and cloud service providers including Chevron, Comcast, ConocoPhillips, European Investment Bank, GE, NTT, MillerCoors, Rogers Communications, SK Telecom, Sony, Time Warner, United Healthcare and dozens of U.S. Federal Government agencies. Tintri’s rapid growth demonstrates that as organizations embrace virtualization, they need storage that does the same.
“We were very excited to migrate our customer workloads from conventional storage to Tintri and see an improvement in performance and available capacity in real time—just plain VM-aware storage out of the box.” Said Magnus Osterlund, Senior VMware & Wintel Architect at Solid Park.
“In the beginning, there was block storage and the leader was EMC and we worked with them. Then came file storage and the leader was NetApp and we worked with them. Now is the era of VM-aware storage and the clear leader is Tintri, and we are excited to make the future with them,” said Shoichi Morita, President and CEO for Networld Inc.