Feeds

KER-CHING: Backers hand Nutanix $101m

Converged server/storage bods likely looking to exit soon

Build a business case: developing custom apps

Converged server/storage startup Nutanix has shown it has the product and business execution goods, prompting its backers to give it $101m to light the rocket fuel and get company lifting off.

Nutanix has been a Harvard Business School textbook example so far in how to start up and grow a company to the point where it has a product customers want, working business processes, and an effective initial sales channel. These have been set up during three funding rounds:

  • a $13.3m A-round in July 2010,
  • a $25.3m B-round in August 2011 and
  • a $33m C-round in August 2012.

That's a total of $71.6m. Now the backers are loading the company up with business expansion funding of another $101m, likely hoping for a profitable exit in, we imagine, 2016. The chart shows the sudden funding expansion graphically:

Nutanix funding rounds

Nutanix says the extra cash will be used "to accelerate its global expansion, boost investments in research and development, expand its service delivery capabilities, and grow its sales, marketing and support teams." That means a big channel expansion, among other things.

The product is a scale-out server + hybrid storage design - think Nimble or Tegile with servers - and the company claims it has a high rate of repeat purchases. The main selling points for the devices are their relative low cost, power, expansibility and simplicity compared to separate server and storage products.

A third of the firm's business comes from outside the US already so the international sales groundwork has already been done. It looks like Nutanix is becoming a force to be reckoned with, not least by Dell, EMC, HDS, HP, IBM and NetApp. ®

Build a business case: developing custom apps

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Microsoft says 'weird things' can happen during Windows Server 2003 migrations
Fix coming for bug that makes Kerberos croak when you run two domain controllers
Cisco says network virtualisation won't pay off everywhere
Another sign of strain in the Borg/VMware relationship?
VVOL update: Are any vendors NOT leaping into bed with VMware?
It's not yet been released but everyone thinks it's the dog's danglies
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.