Pure Storage valued at more than $3bn in latest funding round


data storage_lrgPure Storage has raised $225m in a Series F funding round, which valued the flash storage specialist at more than $3bn.

Existing backers T Rowe Price Associates and Tiger Global participated in the round alongside new investor Wellington Management Company.

The round, which brought the Pure Storage’s fundraising total to $470m, will fund the company’s international expansion via investments in engineering, sales and marketing.

Last year Pure Storage posted quarterly revenue growth of 50 per cent as its customer base grew 650 per cent.

Last August Pure Storage secured $150m in the largest ever round raised by a storage company.

Pure Storage CEO Scott Dietzen said, “This financing at over a $3bn pre-money valuation is a huge milestone for Pure Storage.

“Yes, it reinforces the health and standout growth of our business to date, but more importantly, the disruptive potential of an all-flash array that costs less than disk going forward. In 2014, no one should be buying mechanical disk to run databases or virtual machines.”

Copyright © 2014 AltAssets