SOURCE: Kaminario


December 02, 2014 11:00 ET

Kaminario Secures $53 Million to Fuel Global Expansion and Meet Customer Demand

Silicon Valley Bank and Lazarus Hedge Fund Join Sequoia Capital to Bring Total Funding to $128 Million

NEWTON, MA--(Marketwired - Dec 2, 2014) - Kaminario, the leading all-flash array storage provider for midrange enterprises, today announced it has closed a significantly oversubscribed $53 million financing round, bringing total raised capital to $128 million. In addition to existing investors Sequoia Capital, Pitango, Globespan, Tenaya and Mitsui, the round includes contributions from new investors, Silicon Valley Bank and Lazarus Hedge Fund, as well as a large public company. Kaminario will use the new investment to accelerate growth and extend go-to-market sales, marketing and support reach with its ultra-efficient, highly scalable and agile K2 all-flash storage array.

"Flash arrays have quickly exploded in the market because they can meet modern business needs in a way legacy solutions cannot," said Haim Sadger, managing partner at Sequoia Capital. "The growing demand is pushing vendors to be more agile, scalable and cost-effective than ever before -- and Kaminario has risen to the head of the pack. The speed with which the company has moved from early pioneer to a leading player in this burgeoning market is a testament to its world-class innovation and successful customer deployments."

Since the launch of its fifth-generation K2 all-flash array, Kaminario has continued to rapidly grow its customer base with hundreds of K2 systems, maintaining the highest customer satisfaction rate in the industry. Highlights of the company's most notable achievements include:

  • Quadrupled bookings since the launch of its fifth-generation K2 in late May with a broad range of customers in industries including financial services, healthcare, digital advertising, federal and education;
  • Named a visionary in Gartner's 2014 first annual Magic Quadrant for Solid-State Arrays based on its unique scale-up/scale-out architecture, an average price of $2/GB with the industry's only guaranteed effective capacity and strong R&D and engineering support;
  • Featured consistently in the top three solutions across six use cases in Gartner's Critical Capabilities for Solid-State Arrays report;
  • Received the "Most Innovative Flash Memory Technology" at the Flash Memory Summit;
  • And expanded its channel partner network to 70+ US-based partners.

"Leveraging flash is simply better for business -- with the right solution, enterprises can accelerate business outcomes with faster time-to-market for new services, better user experiences and quicker business insights," said Dani Golan, founder and CEO of Kaminario. "Our additional funding is a strong endorsement for our mission of making flash storage accessible and affordable for every enterprise. With its unmatched cost-efficiency and the unique scalability of its architecture, K2 will continue to revolutionize the all-flash array market."

About Kaminario
Kaminario is the leading provider of enterprise-class all-flash storage, delivering unparalleled cost efficiency, with an average price of $2/GB and the industry's only guaranteed effective capacity. Built from the ground up to take advantage of the most modern flash SSD capabilities, Kaminario K2 is the only product to feature a true scale-out and scale-up architecture that allows organizations to grow capacity and performance based on their needs. The company is headquartered in Boston, Massachusetts, with offices in Yoqneam, Israel, Silicon Valley and New York City, and backed by Sequoia, Pitango, Globespan, Tenaya, Silicon Valley Bank and others.

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