Latest Funding Establishes StorSimple as the Safe Bet in Enterprise Cloud Storage
Series C Round of $10.5 Million Shows Increased Commitment From Current Investors and Brings Total Funding to $31.5m
Santa Clara, Calif. – June 23, 2011 – StorSimple, the leading provider of Enterprise Cloud Storage for Windows and VMware infrastructures, today announced a Series C round of funding of $10.5 million. The round was led by Ignition Partners and included participation by all of StorSimple’s previous investors, including Index Ventures, Mayfield Fund and Redpoint Ventures. This latest round brings the company’s total funding to $31.5 million and will fund accelerating the growth of the company due to significantly increased demand both in the U.S. and internationally.
“History has shown first movers with great breakthrough products capture disproportionate value for their customers and investors - we believe StorSimple to be just such a company,” said Richard Fade, partner at Ignition. “StorSimple is a company we wanted to become a bigger a part of. It has an awesome team, a proven product, early market leadership and deep partner relationships with companies such as Microsoft, who recently selected StorSimple as a Partner of the Year.”
“We appreciate this proactive support from our investors,” said Ursheet Parikh, StorSimple co-founder and CEO. “We are now funded to hit escape velocity. This round reflects the fact that StorSimple has become the clear leader in this space and is the safe bet for any company looking for enterprise cloud storage where high-availability, security and performance are a given.”
StorSimple is the leader in Enterprise Cloud Storage for Windows and VMware infrastructures. StorSimple has uniquely achieved the most stringent “Certified for Windows Server 2008” level of certification and also VMware Ready status. StorSimple is the Microsoft BizSpark Partner of the Year and a Silver award winner in Storage Magazine’s Products of the Year. StorSimple securely and transparently integrates the cloud into on-premises applications and offers a single appliance that delivers high-performance tiered storage, live archiving, cloud based data protection and disaster recovery, reducing cost by up to 90 percent compared to traditional enterprise storage. StorSimple is based in Silicon Valley and is funded by Ignition Partners, Index Ventures, Mayfield Fund, and Redpoint Ventures.
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Lois Paul & Partners