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Index Ventures leads $40m Series D round for Pure Storage

17 Aug 2012

London-based venture capital firm Index Ventures has led an oversubscribed $40m Series D round for all-flash enterprise storage array company Pure Storage, which also received contributions from existing investors Greylock, Redpoint and Sutter Hill.

The new funding, which brings the company’s total capital raise to $95 million, will enable Pure Storage to accelerate its market strategy, including expanding internationally, with immediate plans to establish operations in Europe in conjunction with channel partners, it said.

The company will also apply the funds toward building out its best of breed sales, marketing and engineering teams, and to enhancing and internationalising its lead generation function for Pure Storage and its partners.

Volpi, a veteran investor and entrepreneur, will join the company as a strategic advisor and take a seat on its board of directors.

“The advent of solid state memory technology as a mainstream, enterprise-class storage solution represents one of the most disruptive changes that the industry will see in a decade,” said Index partner Mike Volpi.

“The technology that their team has created is unique and best in class. They are ideally positioned to realise the transformation of enterprise storage to flash memory.

Since emerging from stealth one year ago, Pure Storage has shipped more than 100 of its production-hardened FlashArrays to customers.

With critical new features like high availability, FlashCare, and the data integrity fabric, the FlashArray is the first all-flash storage array to make the performance of flash memory affordable for mainstream enterprises.

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