Feeds

KER-CHING: Backers hand Nutanix $101m

Converged server/storage bods likely looking to exit soon

Internet Security Threat Report 2014

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
'Urika': Cray unveils new 1,500-core big data crunching monster
6TB of DRAM, 38TB of SSD flash and 120TB of disk storage
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
SDI wars: WTF is software defined infrastructure?
This time we play for ALL the marbles
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
Oracle hires former SAP exec for cloudy push
'We know Larry said cloud was gibberish, and insane, and idiotic, but...'
Symantec backs out of Backup Exec: Plans to can appliance in Jan
Will still provide support to existing customers
prev story

Whitepapers

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.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.