News

Nutanix snaps up $101m in Series D funding

Storage provider now valued at $1bn.

15 Jan 2014

Nutanix, a Silicon Valley firm that specialises in converged infrastructure for data centres, has raised $101 million (61.47 million) in Series D funding.

The news means the firm has now raised a total of $172.2 million (104.8 million) across four funding rounds.

Amongst the new investors are well known names such as Morgan Stanley and Greenspring Associates. According to Nutanix, its $101 million is the largest single financing round in the history of the converged infrastructure market.

Furthermore, the company now claims it is worth approximately 1 billion (608.46 million), but has no plans to issue an IPO currently.

Nutanix provides converged data centre infrastructure for medium sized businesses and enterprises. Dubbed the Nutanix Virtual Computing Platform, it can be used on-premise for large-scale virtualisation deployments and used in a hybrid cloud environment.

As well as announcing its funding win, Nutanix has also confirmed Jeff Parks, a founding partner of Riverwood Capital, which was one of the company's earliest investors, has been appointed to the organisation's board of directors.

"Nutanix is one of a very small class of companies that is transforming the way enterprises deliver IT," said Parks.

"We are very excited to partner with [CEO and President] Dheeraj Pandey and his world-class management team as they build the next-generation enterprise computing company," he added.

Pandey said: "Adoption of web-scale computing, and Nutanix's Virtual Computing Platform in particular, has grown explosively over the last two years, yet we've only scratched the surface of this $100 billion hybrid computing market.

"The additional support from such a high-quality investor group leaves us uniquely positioned to capitalise on the opportunity and build one of the elite companies of this decade."