SOURCE: Tintri, Inc.

Tintri, Inc.

June 15, 2011 07:00 ET

Tintri Closes $18 Million Series C Funding

Just One Quarter After Company Launch and Release of Tintri VMstore, the Industry's First VM-aware Storage Appliance, Tintri Closes Funding Round to Support Rapid Growth With Backing From NEA and Lightspeed Venture Partners

MOUNTAIN VIEW, CA--(Marketwire - Jun 15, 2011) - Tintri, Inc., the leading producer of VM-aware storage appliances, today announced it has closed an $18 million Series C funding round led by the company's current investors, NEA and Lightspeed Venture Partners. The funding will help Tintri accelerate its research and development schedule and invest in regional sales to meet surging customer interest.

"When you have major architecture technology changes, such as those driven by the cloud and virtualization, it introduces new bottlenecks and new problems," said Peter Sonsini, Partner at NEA. "To capitalize on this new architecture, each part of the stack needs to be optimized and rebuilt for this new change. Tintri solves the problems that have arisen in storage. The overwhelming initial customer demand for their VM-aware solution made it clear that we needed to move even faster and invest and leverage this growth."

Storage has emerged as the single greatest cost in enterprise virtualization budgets, largely due to the fact that today's leading storage systems were architected before virtualization was even a consideration. Tintri VMstore is a purpose-built storage appliance that is exclusively intended for virtual machines, allowing enterprises to overcome storage-centric bottlenecks and significantly broaden their virtual deployments.

"Since launching last quarter, Tintri's 'VM-aware' offering has received a disproportionate level of industry and consumer attention," said Christopher Schaepe, Managing Director at Lightspeed Venture Partners. "Tintri's team has a unique combination of virtualization and storage experience and has delivered a category-defining product in the emerging market for virtual machine storage."

"We've seen an incredible amount of both U.S. and international inbound interest since our launch," said Kieran Harty, Tintri CEO. "This funding round will help us expand our sales and R&D efforts to better serve our customers, and we will also be exploring more rapid expansion into new markets beyond our current North American base."

"Tintri has quickly established itself as a disruptive storage player," said Dave Bartoletti, Senior Analyst at Taneja Group. "Virtualization is causing a sea change in the storage industry, one not seen since the rise of network computing over 25 years ago. The Tintri team has unmatched virtualization and storage expertise, so if anyone can deliver a simpler and more cost-effective storage solution -- one that's purpose-built for the unique requirements of virtual workloads -- this team can."

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About Tintri, Inc.
Tintri is the developer of the first purpose-built storage system for virtual machines. Co-founded in 2008 by Dr. Kieran Harty, former head of R&D at VMware, Tintri brought together leading experts in virtualization, storage and file systems to create the world's only VM-aware storage system. Tintri is a privately held company based in Mountain View, California with venture funding from NEA and Lightspeed Venture Partners.

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