SOURCE: Primary Data

November 05, 2013 08:00 ET

Primary Data Raises $50 Million in Initial Funding

SALT LAKE CITY, UT--(Marketwired - Nov 5, 2013) - Stealth-mode enterprise software company, Primary Data, which is leading the next evolution in software-defined data center technologies, today announced the closing of a $50 million financing round.

Primary Data is developing next generation data virtualization and mobility technologies to manage how information is stored and shared globally. This round of funding will give the company's experienced and successful team of executives, led by Fusion-io founders David Flynn and Rick White, the ability to bring these new technologies to market in the second half of 2014.

"Cloud and the performance of Flash have spurred a transition in storage. But it's not about the storage resources themselves. Instead, we need to focus on the data," said David Flynn, co-founder and CEO of Primary Data. "Data needs to live beyond the boundaries of the storage systems that hold it. This is one of the problems Primary Data solves. With record-setting funding, we are now ready to lead the charge to a new era of storage that spans from Flash to Cloud."

The $50 million in funding was led by Accel Partners and included Battery Ventures, Pelion Venture Partners, Lightspeed Venture Partners and Wing Capital Group.

"Primary Data's biggest asset is its team of recognized pioneers in the storage industry," said Ping Li, partner at Accel Partners. "Their technical strength and remarkable experience in successfully bringing disruptive technologies to market will help to solve a number of data virtualization and mobility problems."

Primary Data is scheduled to launch from stealth in the second quarter of 2014. The company is currently building its presence in Salt Lake City, Silicon Valley and Israel. To stay connected, visit us at www.primarydata.com.

About Primary Data
Primary Data is an emerging enterprise software company leading the next evolution in software-defined data center technologies.

About Accel Partners
Founded in 1983, and managing over $9.6 billion in capital, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London, and Bangalore, as well as in China via its partnership with IDG-Accel.

Accel has helped entrepreneurs build over 300 successful technology companies, many of which have defined their categories, including 99designs, Actuate, AdMob, Agile Software, AirWatch, Alfresco, Angry Birds (Rovio), Atlassian, BBN, Bonobos, Braintree, Brightcove, Cloudera, ComScore, Diapers.com (Quidsi), Dropbox, Etsy, Exclusively.in, Facebook, Flipkart, Fusion-io, Gameforge, GlamMedia, Groupon, HasOffers, Imperva, Infinera, Interwoven, IronPlanet, JBoss, Kayak, Lookout, Macromedia, metroPCS, MoPub, Myntra, Opower, Polycom/PictureTel, Playfish, Portal Software, QlikTech, Rapt, Real Networks, Redback, Responsys, Riverbed, Spotify, Squarespace, SunRun, Trulia, UUNet, Veritas, Walmart.com, Webroot, Wonga, XenSource and Zimbra.