SEATTLE, WA--(Marketwired - Apr 4, 2017) - Qumulo, the leader in modern scale-out storage, today announced that it has closed $30 million in funding, bringing the total to date over $130 million. The oversubscribed C Prime funding round was led by new investors Northern Light Venture Capital and other strategic investors, with participation from existing investors Kleiner Perkins Caufield & Byers (KPCB), Madrona Venture Group, Top Tier Capital Partners, and Tyche Partners. Qumulo will use the funding to fuel market and global expansion.
Today's news follows the recent appointments of EMC Isilon veteran Bill Richter as chief executive officer, Eric Scollard as vice president of worldwide sales, and Jay Wampold as vice president of marketing, adding to the world-class engineering team built by Founder and CTO Peter Godman and Chief Scientist Neal Fachan. With a powerhouse executive team experienced at building and scaling large, category-leading companies, Qumulo is becoming the de facto standard in the race to replace legacy storage. As a result, the company has experienced 425 percent year-over-year growth in petabytes shipped to customers, or enough storage to play digital music for 150,000 years.
"Customers have been very vocal with us about the need to address the scalability crisis they face as the rapid growth of their file-based data exceeds the capabilities of legacy scale-out storage," said Bill Richter, CEO of Qumulo. "Qumulo is delivering modern scale-out storage to serve the new era of multi-petabyte data storage on-premises and in the cloud."
Qumulo's new funding will support the growth of its enterprise-ready, scale-out storage solution, and rapid expansion into vertical industries in North America, Europe and Asia.
"We are seeing a massive explosion in digital file data worldwide," said Feng Deng, Founding Managing Director of Northern Light Venture Capital. "Qumulo addresses the challenge of unstructured data growth and management that incumbents have found impossible to solve. Northern Light is committed to helping entrepreneurs build world class companies through our expertise and resources and Qumulo fits that investment profile as a high-growth company at the crossroads of innovation and disruption."
Northern Light Venture Capital (NLVC) is a leading China-focused venture capital firm targeting early stage opportunities of innovation and disruptive technology. Since inception in 2005, Northern Light has backed nearly 200 ventures in TMT, healthcare and advanced technology. Leveraging significant investing and entrepreneurial expertise in both China and the United States, the NLVC team looks to support entrepreneurs with groundbreaking ideas and exceptional vision to develop lasting ventures.
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About Qumulo Core
Qumulo Core is a modern scale-out storage system designed from the ground up to handle the new era of multi-petabyte data scale, on premises and in the cloud. Qumulo Core stores tens of billions of files with high performance and is the only product with full data management and real-time visibility into storage use at petabyte scale. Storage administrators can instantly see usage, activity and throughput history at any level of the unified directory structure, no matter how many files in the file system, allowing them to pinpoint problems and effectively manage how storage is used.
Qumulo Core's flash-first design uses fast, flexible and highly scalable commodity hardware, including SSD and HDD technologies, to provide unprecedented cost effectiveness and scalability. Last month, Qumulo announced the latest release of Qumulo Core that included the industry's first real-time capacity quotas at petabyte scale. The company also launched the Qumulo QC360, a new storage platform with industry-leading density, performance and economy.
Qumulo, headquartered in Seattle, the leader in modern scale-out storage, enables enterprises to manage and store enormous numbers of digital assets through real-time analytics built directly into the file system. Qumulo Core is a software-based solution designed to leverage the price/performance of commodity hardware coupled with the modern technologies of flash, virtualization and cloud. Qumulo was founded in 2012 by the inventors of scale-out NAS, and has attracted a team of storage innovators from Isilon, Amazon Web Services, Google, and Microsoft. Qumulo has raised $130 million in total funding from leading investors. For more information, visit www.qumulo.com