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Samsung Ventures backs SSD storage business Solidfire through $31m financing

26 Jul 2013

SolidFireSamsung Ventures has led a $31m Series C financing round for solid state device (SSD) storage maker SolidFire.

The investment was revealed as SolidFire unveiled its new SF9010 storage platform, which it says will allow customers building storage infrastructure between 60TB and 3.4PB can do so for less than $3 per GB.

Samsung was joined in the round by existing investors NEA, Valhalla Partners and Novak Biddle Venture Partners.

The funding, which brings SolidFire’s total to $68m, will be used to expand sales and marketing, the company said.

Samsung Ventures senior director Jay Chong said, “We feel that SolidFire is uniquely positioned to take advantage of the rapid growth in both public and private cloud computing markets.

“They have demonstrated clear technological leadership with their patent pending QoS capabilities, and true scale-out architecture.

“And their strong customer traction puts them in the right position as the cloud computing market matures.”

In February SSD storage technology specialist Skyera received a vote of confidence from Dell, whose corporate venture capital arm led its $51.6m funding round.

The California-based group’s strategic investors also supported the fundraising effort, which marked the second injection of institutional capital into the business.

Skyera said the fresh funds would allow it to speed up integration of the latest-generation flash technology and make its core product available to more customers.

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