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NEA leads $23.6m VC round for data centre developer Igneous Systems

8 May 2014

Data centre infrastructure company Igneous Systems has closed a $23.6m Series A financing round led by New Enterprise Associates (NEA) with participation from Madrona Venture Group, Redpoint Ventures and Isilon Systems co-founder Sujal Patel.

The company had previously raised a $3m seed round led by Madrona with participation from Redpoint Ventures. The company said it will use the funding for product development and for significant expansion of its engineering and leadership teams. As part of the funding, Ron Bernal, venture partner at NEA, will join the board of directors.

“With heavyweights like Microsoft, Amazon, F5 Networks, and EMC Isilon, Seattle is becoming a tech mecca in its own right, particularly when it comes to cloud technologies,” said Matt Mcllwain, managing director at Madrona. “Igneous brings together three of Seattle’s leading technology visionaries, who have already set about building a world-class team comprised of top talent from cloud pioneers including Amazon Web Services. We are excited to have seeded and incubated Igneous and look forward to playing a role in the success of Seattle’s next great enterprise technology company.”

Igneous was founded by three former leaders from enterprise storage company Isilon Systems, and storage and data management company NetApp.

“We have been working the Igneous team since the beginning,” said Ron Bernal, venture partner at NEA. “This is a top flight team that knows how to execute at scale. We are pleased to be leading this funding round.”

“Cloud technologies have proven to be powerful change-agents across all segments of the enterprise IT landscape, providing infrastructure and services at unprecedented scale,” said Kiran Bhageshpur, CEO, Igneous. “This Series A round enables Igneous to accelerate development of our product as we work to transform the data center with a cloud solution that solves some of today’s most complex engineering challenges. The participation of NEA, Madrona, Redpoint and Sujal Patel also provides us with a wealth of entrepreneurial and technology experience on which to draw as we grow this company.”

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