Feeds

Fusion-io gets $45m in C-round

Whopping financial injection

Beginner's guide to SSL certificates

Rumour Central says Fusion-io just got a $45m-$47m injection of funds in a C-round of investment.

Fusion-io is the supplier of PCIe bus-connected ioDrive and ioDuo flash solid state drives (SSD) using both single and multi-level cell flash. It has recently promoted its co-founder and chief technology officer David Flynn to the CEO spot with previous CEO David Bradford becoming board chairman.

Fusion has an OEM deal with HP and has received funding from flash chip foundry operator Samsung. It has released impressive percentage sales growth figures - though not the actual numbers as it's privately owned and keeps such information quiet.

It was also involved in last week's launch of the NextIO vSTOR multi-terabyte flash product, which shares out its flash to PCIe-connected servers using NextIO's PCIe virtualisation technology.

A Fusion-io spokesperson said: "I can confirm that Fusion-io did close a $45m round of funding."

It was a Series C preferred stock financing, led by new investor Meritech Capital Partners. Other new investors included Accel Partners, Andreessen Horowitz - yes, Marc Andreessen's investing initiative - and Triangle Peak Partners, as well as returning investors, New Enterprise Associates, Venture Partners and others.

Fusion had a $19m A-round in March 2008. This was followed by a $47.5m B-round in May 2009, with the money intended for next-generation SSD technology development. Samsung invested an undisclosed amount in October 2009, with the money being used for SSD technology innovation. Now it has gained another $45m, taking total funding to at least $111.5m, plus the Samsung cash which could total something like $5m to $10m. Let's give Fusion a round figure of $120m funding.

The $45m increase in funds will enable Fusion to both build out its sales channel and further develop its product line. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
Cray-cray Met Office spaffs £97m on VERY AVERAGE HPC box
Only 250th most powerful in the world? Bring back Michael Fish
Microsoft brings the CLOUD that GOES ON FOREVER
Sky's the limit with unrestricted space in the cloud
'ANYTHING BUT STABLE' Netflix suffers BIG Europe-wide outage
Friday night LIVE? Nope. The only thing streaming are tears down my face
IBM, backing away from hardware? NEVER!
Don't be so sure, so-surers
Google roolz! Nest buys Revolv, KILLS new sales of home hub
Take my temperature, I'm feeling a little bit dizzy
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.